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Thailand Names Rate-Cut Advocate Vitai to Lead Central Bank
Thailand picked a rate-cut advocate with close ties to the government as its next central bank governor, defying concerns over a potential erosion of the monetary authority's independence.
The cabinet approved the nomination of Vitai Ratanakorn, as proposed by Finance Minister Pichai Chunhavajira, during a weekly meeting in Bangkok on Tuesday, according to government spokesman Jirayu Houngsub. The president of the Government Savings Bank was chosen over fellow finalist and Bank of Thailand Deputy Governor Roong Mallikamas.
