Thailand's cabinet on Tuesday approved Vitai Ratanakorn as the next governor of the Bank of Thailand, government officials said.
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Thailand's cabinet on Tuesday approved Vitai Ratanakorn as the next governor of the Bank of Thailand, government officials said.
The appointment of Vitai, president and CEO of the Government Savings Bank, will be approved by the royal family before the five-year term begins on October 1. The cabinet approval has been announced by government spokesman Jirayu Huangsap.
Vitai will replace Sethaput Suthiwartnarueput, who is unable to seek a second term at retirement age.
The New Governor faces a difficult task of facing moderate consumption, high household debt and steep U.S. tariffs in the monetary policy room, facing a difficult economy.
Vitai was elected as a senior central bank and deputy governor Roong Mallikamas.
Some analysts expect Vitai’s appointment will improve work between the central bank and the party-led government led by the Thai party, which has previously clashed with Sethaput and on interest rate and monetary policy institutions.