Thai central bank rate committee gets new members

BANGKOK, Oct 8 - The Bank of Thailand's Monetary Policy Committee (MPC), which is meeting on Wednesday to review interest rates, appointed two new members this week, a central bank official said.

The BoT's Court of Directors reappointed five members to the seven-person MPC.

It also replaced a member whose term had expired with Praipol Kumsap, an economic professor at Bangkok's Thammasat University, and appointed respected economist Ammar Siamwalla to fill a vacant seat.

Analysts said the two new members have been known to support prudent monetary policy and their views are not expected to change the MPC's focus on monetary stability.

Economists had worried that a new BoT board nominated by the government in late July would appoint an MPC that would back its growth-oriented policies rather than focus on inflation.

The appointees have to be approved by King Bhumibol Adulyadej.

Furthermore, a new government took office in September -- albeit from the same coalition parties -- and the BoT, like independent economists, is now more concerned about a possible slowdown in growth than inflation, which has eased.