Bank of Thailand Delays Chairman Selection Again

Thailand's central bank has postponed the selection of its next chairman to November 11 to allow for further consideration amid growing opposition to the government's preferred candidate, Kittiratt Na-Ranong. The independent committee, which includes former regulators, cited the need to carefully evaluate all aspects of the selection process. Critics, including former central bank officials and economists, have raised concerns over potential government interference and the implications for the bank's independence. The discord between the central bank and Prime Minister Paetongtarn Shinawatra's administration centers on differing views regarding monetary policy and inflation targets. While the chairman does not set policy directly, they play a significant role in evaluating the governor's performance and selecting members of the Monetary Policy Committee. The situation reflects broader tensions between the ruling party's economic strategies and the central bank's approach to managing the economy.