The story behind the BOT governor’s near untouchability

BANGKOK: The saga of dismissing four central bank governors led to the amendment of the Bank of Thailand Act after the 2006 coup, aiming to safeguard the position of the governor of the Bank of Thailand. This amendment in effect renders any political faction almost incapable of removing the governor.

The cold war between Pheu Thai Party and Sethaput Suthiwartnarueput, the current governor of the Bank of Thailand (BOT), reached a boiling point when Paetongtarn Shinawatra shook the independence of the central bank, triggering a fierce backlash against Pheu Thai.