The Ministry of Finance has stated that the Bank of Thailand (BOT) is a government agency under its supervision.
Julapun Amornvivat, Deputy Minister of Finance, explained that, although the Bank of Thailand Act grants the BOT autonomy in overseeing monetary policy, it should also consider the government’s policies.
He remarked that it is appropriate for the Minister of Finance to consult with the Governor of the Bank of Thailand to align on state policies and inflation rate frameworks. Julapun clarified that such discussions are intended to harmonize the policy directions of both entities for the benefit of the country, as the determination of inflation targets is the responsibility of the BOT but must also be approved by the Ministry of Finance.
Furthermore, he reassured that currently there was no discussion about amending the National Bank Act to create a mechanism for dismissing the Governor of the Bank. He described these rumors as merely political maneuvers.
Regarding the digital wallet stipend program, Julapun announced that a meeting of the sub-committee responsible for the policy is scheduled soon to finalize details of the program with various agencies, especially the Ministry of Commerce, to move the project forward. These topics are particularly about which types of goods that can be purchased with digital money, among other operational details. (NNT)
