Latest news with #SethaputSuthiwartnarueput
Bloomberg
4 days ago
- Business
- Bloomberg
The Price of Installing an Ardent Rate Cutter
Thailand was saddled with US tariffs and forced to call it a good deal. But the country's besieged political leaders have managed a feat that President Donald Trump has so far found elusive. In naming an advocate of aggressive monetary easing to be the next central bank chief, they got the financial manager they want — or think they want. The benefits may be short-lived. After a bruising campaign to pressure the Bank of Thailand to juice growth, the cabinet recently tapped a critic of the incumbent governor to lead the powerful authority. More stimulus is certainly warranted: Deflation is a threat, business confidence is languishing and recession is a very real possibility. The bank has eased this year, though it is reluctant to speed further steps. Outgoing chief Sethaput Suthiwartnarueput has defended the institution's independence, almost to a fault, while being careful not to rule out additional reductions. Things seem stuck.
Wall Street Journal
22-07-2025
- Business
- Wall Street Journal
Thai Cabinet Names New Central Bank Chief
Thailand's cabinet has named the next central bank governor, picking dovish Vitai Ratanakorn over Deputy Gov. Roong Poshyananda Mallikamas. Vitai is set to take the reins of the Bank of Thailand on Oct. 1, according to a statement from the prime minister's office on Tuesday. Pending a final approval, Vitai will succeed BOT Gov. Sethaput Suthiwartnarueput, whose five-year term ends Sept. 30.
Bangkok Post
21-07-2025
- Business
- Bangkok Post
PTTEP wins two honors at Money & Banking Awards 2025
Mr. Montri Rawanchaikul (left), Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), received two prestigious accolades at the Money & Banking Awards 2025: Best Public Company of the Year 2025 on the Stock Exchange of Thailand (SET) and Best Public Company of the Year 2025 in the Energy & Utilities Sector. The awards were presented by Dr. Sethaput Suthiwartnarueput (center), Governor of the Bank of Thailand, and Mr. Santi Viriyarungsarit (right), Chairman of Money & Banking Magazine, at Hyatt Regency Bangkok Sukhumvit. Organized by Money & Banking Magazine, the Best Public Company of the Year 2025 awards were determined through a fundamental analysis of business information from companies listed on the SET. The evaluation was based on four key factors: size of the firm, profitability, return on investment, and investment liquidity.
Reuters
15-07-2025
- Business
- Reuters
Thai minister to propose Vitai Ratanakorn as next central bank chief, sources and Thai media say
BANGKOK, July 15 (Reuters) - Thailand's finance minister will on Tuesday propose to cabinet state-owned bank head Vitai Ratanakorn as the next central bank chief, according to two government sources and two Thai media outlets. The appointment of Vitai, 54, the president and CEO of the Government Savings Bank, would be subject to cabinet and royal approval. He would serve a five-year term starting October 1. The government sources declined to be identified because they were not authorised to speak to media. The finance minister's decision, from among two candidates, was reported by the Manager and Thansettakij news outlets on Tuesday. If appointed, Vitai would succeed Sethaput Suthiwartnarueput, who could not seek a second term as he has reached retirement age. Vitai has a master's degree in finance from Drexel University in the United States, as well as degrees in economics and law from Thailand's Chulalongkorn and Thammasat universities. The new governor faces a tough task of supporting a struggling economy facing tepid consumption, high household debt and steep U.S. tariffs, with limited monetary policy room.
Bloomberg
14-07-2025
- Business
- Bloomberg
Thai Cabinet May Endorse New Central Bank Governor on Tuesday
Thailand is poised to name its new central bank chief on Tuesday, ending a months-long process to find a successor to incumbent Governor Sethaput Suthiwartnarueput, whose rocky five-year tenure ends in September. Finance Minister Pichai Chunhavajira told reporters on Monday that he has chosen one of the two finalists shortlisted by a panel to select the next Bank of Thailand chief, whose term would start Oct. 1. The nomination will be part of the weekly cabinet meeting's agenda, and if approved then be presented for the official royal endorsement.
