Kosit has agreed to join the new government's economic team. He is expected to become deputy prime minister and supervise the economic ministries of the new cabinet.

"His replacement, however, must be approved by the bank's board of directors," Chatri said yesterday. "Chartsiri or I or other bank directors can see to the executive chairmanship. I'm not too old for it."

Chartsiri also said Kosit's replacement would be up to the bank's board of directors.

He is confident that the country's economic growth will show positive results under the new economic team led by Bank of Thailand Governor MR Pridiyathorn Devakula.

He said he expected gross domestic product would grow at a reasonable and sustainable rate, given the Kingdom's strong fundamentals.

Meanwhile, Pridiyathorn said that one of the three BOT deputy governors would succeed him.

Pridiyathorn is expected to be appointed head of the new government's economic team next week.

His deputies are Tarisa Watanagase, Bandid Nijathaworn and Swangchit Chaiyawat. Many tip Tarisa, who has seniority.

Pridiyathorn also said there was a need to find a new Monetary Policy Committee (MPC) member to replace Krirk-krai Jirapaet, who will also join the new economic team. The current MPC comprises Pridiyathorn, Bandid, Tarisa, Krirk-krai, Aran Thamano, Chakramon Phasukavanich and Ampon Kittiampon.

Chartsiri said the country's policy signal rate had peaked and would probably decline gradually next year.

Although the bank's prime lending rates are lower than those of other large banks, he said, BBL has no need to raise its rates this year.

Anoma Srisukkasem,

Somruedi Banchongduang

The Nation