# Thailand Appoints new Chairmain of Central Bank

- Link: https://www.thailand-business-news.com/banking/174358-thailand-appoints-new-chairmain-of-central-bank
- Published: 2024-11-12T00:57:57+07:00
- Author: Jessica Lee

**Former finance minister Kittiratt Na-Ranong is appointed chairman of the Bank 
of Thailand, indicating government influence over monetary policy amidst ongoing
debates about interest rates and economic strategies.**

Thailand is set to appoint former finance minister Kittiratt Na-Ranong as the new
chairman of the Bank of Thailand (BoT). This decision reflects the government’s 
intention to exert more control over the central bank amid ongoing tensions regarding
monetary policy and inflation. Kittiratt, known for his criticism of the BoT’s conservative
approach, was selected following discussions by the selection panel.

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Sathit Limpongpan, who led the committee, confirmed a decision was reached but did
not disclose Kittiratt’s name pending cabinet and royal endorsement. While the chairman
does not directly set policy, Kittiratt will influence appointments to the Monetary
Policy Committee and evaluate the governor’s performance.

Former central bank chiefs and economists had cautioned against appointing a politically
aligned chair, warning it could compromise economic stability. The government seeks
to lower interest rates to stimulate growth, contrasting with the central bank’s
conservative stance, particularly as it aims to maintain an inflation target of 
1% to 3%.

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