Which institution is Thailand’s central bank, established by the Bank of Thailand Act of 1942?

The Bank of Thailand is Thailand’s central bank, established by the Bank of Thailand Act of 1942.

The institution began operating on 10 December 1942 during the Second World War. Its establishment created a formal national monetary authority for Thailand, then commonly known internationally as Siam in earlier historical periods.

The Bank of Thailand is headquartered in Bangkok. It conducts monetary policy, issues Thailand’s banknotes, manages official reserves, supervises aspects of the financial system, and supports the stability of the baht. The bank’s decisions are made through its statutory policy structures, including the Monetary Policy Committee.

A frequent mix-up is with Siam Commercial Bank, a commercial institution founded in 1906. Despite the historical word “Siam” in its name, Siam Commercial Bank is not Thailand’s central bank. The Bank of Thailand is the institution responsible for the country’s national monetary framework.