Cabinet to consider contenders for central bank governor next week

Finance Minister Pichai Chunhavajira said today that the Cabinet will consider contenders for the post of the governor of the Bank of Thailand next week.

He declined to say whether his proposed candidate is a male or a female, noting that the matter is still confidential, but that he has already proposed a name to the Cabinet.

The selection committee, headed by former finance permanent secretary Sathit Limpongpan, has shortlisted candidates to Vitai Ratanakorn, president and CEO of the state-run Government Savings Bank and Dr. Roong Mallikamas, deputy governor of the BoT in charge of financial institution stability.

An informed cabinet source said Pichai proposed a candidate to the Cabinet today, as a special matter not on today’s meeting agenda, but his proposal was criticised as being improper and discussion of the matter was postponed until next week’s meeting.

Other informed sources say the government is in favour of a new governor who would be more accommodating to the government, rather than an independent governor like Sethaput Suthiwartnarueput, the incumbent, and Vitai is thought meet the government’s requirement.

Sethaput has voiced his objection to the government’s digital wallet scheme and has resisted government pressure to cut the policy rate, to ease the financial burden on businesses. His five-year term is due to end at the end of September.