Thai Cabinet approves Vitai Ratanakorn as next central bank chief
Vitai will succeed Sethaput Suthiwartnarueput, who has reached retirement age
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[BANGKOK] Thailand’s Cabinet on Tuesday (Jul 22) gave its approval for Vitai Ratanakorn to be the next governor of the Bank of Thailand, a government official said.
The appointment of Vitai, 54, the president and CEO of the Government Savings Bank, would be subject to royal approval before he starts a five-year term on October 1. The Cabinet approval was announced by government spokesperson Jirayu Huangsap.
Vitai will succeed Sethaput Suthiwartnarueput, who could not seek a second term as he has reached retirement age. The new governor faces a tough task of supporting a struggling economy facing tepid consumption, high household debt and steep US tariffs, with limited monetary policy room.
Vitai was picked over central bank veteran and deputy governor Roong Mallikamas. Some analysts expect Vitai’s appointment to improve working between the central bank and the Pheu Thai party-led government, which has previously clashed with Sethaput over interest rates and monetary policy settings. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
