Latest news with #SomprawinManprasert
Bloomberg
2 days ago
- Business
- Bloomberg
Candidate for Bank of Thailand Chief Backs Aggressive Rate Cuts
Thailand should be more aggressive in cutting borrowing costs given its bleak growth outlook and subdued inflation, according to Somprawin Manprasert, one of the candidates seeking to become the Bank of Thailand 's new governor. The benchmark rate, currently 1.75%, can be cut by 75-100 basis points, Somprawin said in an interview in Bangkok. The central bank should also 'explicitly' state that it's in an easing cycle, to loosen tight financial conditions and ensure banks pass through more of the rate reductions to customers.
CNA
3 days ago
- Business
- CNA
Four candidates confirm applications for Bank of Thailand Governor
BANGKOK : A university dean, a board member at the state planning agency and the head of a state bank are among the seven candidates to Thailand's next central bank governor, with the selection committee to prepare a shortlist over the next month. By Thursday, four people had publicly confirmed their interest in the role after the finance ministry said on Wednesday it had received seven applications. The selection committee plans to shortlist at least two candidates to succeed Sethaput Suthiwartnarueput by July 2, with the finance minister to bring the name of his preferred candidate to cabinet. The final appointment will require cabinet and royal approval. "The country is facing serious problems... I want to propose how monetary policy can help," Somprawin Manprasert, a board member at the state planning agency and former chief economist at Siam Commercial Bank, told Reuters when confirming his bid. "Even if I'm not chosen, whoever is can use those proposals," said the 50-year-old, who holds a doctorate in economics from the University of Maryland. Anusorn Tamajai, the dean of economics at the University of the Thai Chamber of Commerce, also confirmed his candidacy to Reuters. The 59-year-old has been a BOT board member and also served on the Finance Ministry's debt management committee. Other candidates to confirm to Thai media that they had applied for the role are Vitai Ratanakorn, the 54-year-old president of the state-owned Government Savings Bank who previously led Thailand's $34 billion Government Pension Fund, and Kobsak Pootrakool, chairman of the Federation of Thai Capital Market Organizations. Kobsak, 56, served as minister attached to the Prime Minister's Office from 2017 to 2019, and has worked in the BOT's Monetary Policy Department. Local media have reported three other applicants, including two women, who have not publicly confirmed their interest. A current BOT deputy governor, Roong Mallikamas, was reported to have applied. The 56-year-old has held senior roles in financial markets and monetary policy in her two-decade career at the central bank. She declined to comment when contacted by Reuters. Another reported applicant is former IMF economist and finance ministry official, Sutapa Amornvivat, who is the CEO of fintech lender Abacus Digital. The 50-year-old is a cousin of Deputy Finance Minister Julapun Amornvivat. She declined to comment when contacted by Reuters. Thai media also reported businessman and politician Vikran Supamongkol had applied for the role. Reuters could not immediately reach him for comment on whether he was a candidate.
