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
[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
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Asean must retain more value as its digital economy races towards US$2 trillion: Indonesian minister
Singapore releases Economic Strategy Review Final Report with more detailed proposals
