Pichai calls for speedy selection of new Bank of Thailand chair

Finance Minister Pichai Chunhavajira said on Thursday that he will tell the selection committee to expedite the process of appointing a new chairperson for the Bank of Thailand (BOT) board after the last nominee was disqualified.

He said that the current caretaker chairman, Porametee Vimolsiri, is set to end his term in mid-January and the selection process should be accelerated. Though Porametee’s official tenure ended on September 16, he has remained as caretaker chairman. 

The selection panel had previously chosen Kittirat Na-Ranong, a former deputy prime minister and finance minister, for the role.

However, the Council of State ruled Kittirat as ineligible due to his recent political positions. The BOT chairman is required to have been out of politics for at least one year before taking the post. 

Pichai said that while Porametee could remain in the caretaker role for a longer period, he may choose to step down. If that happens, the selection panel will need to accelerate the process. 

On the economic outlook for 2025, Pichai said that if the economy does not fully recover this year, the BOT’s Monetary Policy Committee could consider lowering the policy interest rate from 2.25% per annum. However, if the economy recovers, Pichai noted that banks and financial institutions would be able to offer more loans. 

He also said that he would soon hold a meeting with representatives from the BOT, commercial banks and the National Economic and Social Development Council on the economic outlook so the government can plan the fiscal 2026 budget accordingly. 

When asked by reporters about the government’s plan to remit 10,000 baht to 4 million elderly citizens before January 29, Pichai declined to comment and simply walked away towards the Command Building at Government House.