The Bank of Thailand
(ธนาคารแห่งประเทศไทย) is the central bank
The Bank of Thailand was founded on December 10, 1942. It was ever since led by a governor and four deputy governors.
Tarisa Watanagase was, on October 17, 2006, designated as the bank’s governor, replacing Pridiyathorn Devakula, who became finance minister.
It defines its roles as :
- To promote monetary stability and formulate monetary policies.
- To promote institutions’ stability and supervise financial institutions.
- To provide banking facilities and recommend economic policies to the government.
- To provide banking facilities for the financial institutions.
- To manage the country’s international reserves.
- To print and issue banknotes.
Since May 2000, the bank has targeted inflation, replacing money supply as the core of its monetary policy. Its current target for core inflation is 0%-3.5%.
Interest rates are designated by the Monetary Policy Committee, which comprises three officials from the Bank of Thailand and four other experts.