“I think of changing the BoT chief everyday,” he said.
Speaking on “Thailand’s future economy” with former finance minister Korn Chatikavanij at a debate hosted by Suthichai Yoon, Mr Kittiratt said it was the first time that he had disclosed his thoughts on this matter.
The deputy prime minister for economic matters said his thoughts derived from the failure of the central bank chief to cut the repurchase rate to curb the baht’s appreciation, even after a series of discussions on the issue between the Ministry of Finance and the central bank.
Such ignorance forced him to send a letter to the BoT chief reminding him of the need for a policy rate cut, because if the economy was damaged someone must be held responsible for it, he added.
Mr Kittiratt said the repurchase rate should be lowered by one percentage point as the current rate of 2.75 per cent is too high and has led to the problems of a huge foreign direct investment inflow and the strengthening baht.
Mr Korn, deputy leader of the Democrat Party, said Mr Kittiratt should not have spoken out about wanting to replace the BoT governor, as it could erode the confidence of investors.
The former finance minister said he feels the current key policy rate is at a suitable level.
“Many other countries in the region have higher policy rates than Thailand and a cut in the key policy rate is not the solution to the baht’s appreciation,” Mr Korn said.