Prime Minister Srettha Thavisin has insisted his chief adviser and former finance minister Kittiratt Na-Ranong is not eligible to vie for the top seat on the board of the Bank of Thailand (BoT) to replace the incumbent whose term expires in September 2025.
Mr Srettha was responding to a news report that Mr Kittiratt could stand as a candidate to replace the outgoing chairman of the central bank board, Porametee Vimolsiri.
It was also reported that Supawut Saichua, a former adviser to the ruling Pheu Thai Party, could make the cut as a BoT board chairman candidate.
If Mr Kittiratt were to take over as chairman, the BoT's policy could align with the government's fiscal and financial direction, which is to lower interest rates, something the central bank governor, Sethaput Suthiwartnarueput, has resisted.
Mr Sethaput's term as governor is due to expire in September next year.
The prime minister was thought to be at loggerheads with Mr Sethaput over their different stances on interest rates.
Mr Srettha has repeatedly asked the BoT to cut rates to stimulate the economy, while Mr Sethaput has insisted on the central bank's independence in its decision-making.
On Wednesday, Mr Srettha ruled out the idea of Mr Kittiratt, who served as finance minister under the former Yingluck Shinawatra administration, making a bid for the BoT board chairmanship.
The premier said Mr Kittiratt's role as chief adviser makes him ineligible to seek or assume the post. He could only take on the chairman's role if he first vacates his current position for at least a year.
Mr Srettha said he had no idea who would fill the chairmanship vacuum next year. He made it clear the selection process must be allowed to proceed unhindered.
He declined to say if the new BoT chairman should advocate a policy that was more agreeable to the government.
However, he maintained that the government is managing the economy in line with organisations and agencies such as the Thai Chamber of Commerce, the Federation of Thai Industries, and the Office of the National Economic and Social Development Council.
He and these organisations have worked in close consultation and understand each other well.
Mr Srettha reiterated that he was hoping for a rate cut but said he should hold his tongue to avoid being criticised for trying to interfere with the BoT's affairs.