Kittiratt Na Ranong, expected to be central bank chairman, advocates for sharp interest rate cuts to boost Thailand’s economy, emphasizing his role involves advising rather than directing policy.
Kittiratt Na Ranong, a former minister, is expected to be appointed as the chairman of the Bank of Thailand. He emphasized his commitment to performing the role effectively, despite acknowledging that the chair does not direct interest rate policy but “intervenes with thoughts.” Kittiratt believes that rapidly reducing interest rates is essential to revive Thailand’s economy, stating that current rates are too high.
At a recent seminar, he called for collaboration to address this issue and reiterated a previous call for sharp cuts to mitigate potential economic disasters. While the government has not officially confirmed his candidacy, sources indicate that his appointment is likely.
Kittiratt’s potential appointment has sparked concerns among economists regarding political influence on the central bank, particularly amid tensions between the government and bank officials over economic policies since September 2023. The new chairman will have a significant role in shaping the future direction of the bank, including selecting the next governor when the current term ends in September 2025.
Source : Bangkok Post – Kittiratt: Rate cuts needed to avert ‘disaster’ in Thailand
