BANGKOK (Reuters) – An independent panel on Friday picked the government-backed candidate, former senior finance ministry official Somchai Sujjapongse, as the new chair of the board of the Bank of Thailand, two government sources told Reuters.
The central bank board chair has no direct say in monetary policy but heads the board which picks four members to sit on the monetary policy committee with the governor and two deputy governors.
The sources declined to be identified because they were not authorised to speak to media on the issue. The panel chief said the selection process was completed but declined to identify the successful candidate.
The selection of Somchai, a former finance ministry permanent secretary, comes after a failed effort to appoint a ruling Pheu Thai Party loyalist to the position last year, which followed concerns among economists and former central bank governors about the potential for political interference.
(Reporting by Orathai Sriring, Panu Wongcha-um, Panarat Thepgumpanat and Kitiphong Thaichareon; Editing by John Mair, Martin Petty)
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