The Bank of Thailand (Thai: ธนาคารแห่งประเทศไทย) is the central bank of Thailand.
[edit] History
The Bank of Thailand was start operations on December 10, 1942. It was first set up as the Thai National Banking Bureau. It was ever since led by a governor and four deputy governors.
H.H.Prince Vivadhanajaya was the first BOT governor. For the present Tarisa Watanagase was, on October 17, 2006, designated as the bank’s governor, replacing Pridiyathorn Devakula, who became finance minister.
[edit] Roles and Responsibilities
The bank of Thailand's mission is to provide a stable financial environment for sustainable economic growth in order to achieve continuous improvement in the standard of living of the people of Thailand.
It defines its roles as:[1]
- 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.
[edit] See also
[edit] References
[edit] External links
| Thailand currency and coinage | | | Topics | | | | Coinage | | | | Currency | | |
