The announcement was made by the Prime Minister’s Office and published in the Royal Gazette on Friday (June 6). It took effect for the former permanent secretary for finance from last Monday, reports the Bangkok Post.
The Cabinet approved him as the new chairman on April 22.
Mr Somchai, 64, succeeds Porametee Vimolsiri, whose acting term ended on Jan 16.
Mr Somchai is a highly regarded Thai economist and civil servant with extensive experience in the financial sector. The fiscal policy expert also served as director at PTT Plc from Nov 2015 to May 2018.
Born on July 27, 1961, he holds a bachelor’s degree in economics from Chulalongkorn University and both a master’s degree and a PhD in economics from Ohio State University in the United States.
The central bank’s board meets at least once a month.