Bank of Thailand - Roles and Responsibilities

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. Print and issue banknotes and other security documents
  2. Promote monetary stability and formulate monetary policies
  3. Manage the BOT’s assets
  4. Provide banking facilities to the government and act as the registrar for the government bonds
  5. Provide banking facilities for the financial institutions
  6. Establish or Support the establishment of payment system
  7. Supervise and examine the financial institutions
  8. Manage the country’s foreign exchange rate under the foreign exchange system and manage assets in the currency reserve according to the Currency Act
  9. Control the foreign exchange according to the exchange control act

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 0.5%-3.0%.

Interest rates are designated by the Monetary Policy Committee, which comprises three officials from the Bank of Thailand and four other experts.

The Bank is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.

Read more about this topic:  Bank Of Thailand

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