BANGKOK: New BOT Governor Vitai Ratanakorn emphasises macroeconomic stability, structural reforms, and collaboration with all agencies while maintaining independence.
Vitai Ratanakorn, upon taking office as the Governor of the Bank of Thailand (BOT) on Oct 1, stated on his first day that it is a great honour to serve in this role. He emphasised that the BOT’s core mission is to maintain macroeconomic stability, which is crucial for the country’s economic health, and reiterated the necessity for the central bank to remain independent from political pressures.
Vitai noted that Thailand’s economy currently faces short-term, long-term, and structural challenges, many of which require urgent attention, while structural issues also demand sustained focus.
He highlighted that the BOT is a key institution for safeguarding economic stability. Despite only just assuming office, he pledged to perform his duties to the best of his ability. Many tasks require collaboration with other agencies, and the BOT cannot act alone on major economic issues.
Vitai stressed that the BOT is committed to working closely with the Ministry of Finance and all relevant agencies to support and stabilise the economy, emphasising coordinated action rather than independent efforts. The shared objective is to enable balanced economic growth and realise Thailand’s full potential.
“In line with our core mission, the BOT will maintain macroeconomic stability while preserving independence from political pressure.
"The economy faces numerous challenges—short-term, long-term, and structural. We must address immediate concerns while also giving attention to long-term structural issues. The BOT is ready to cooperate with the Ministry of Finance and all relevant agencies to manage and stabilise the economy, rather than acting in isolation,” Vitai concluded. - The Nation/ANN
