Bangladesh Bank to unveil H1 monetary policy Tuesday

Published: July 30, 2018 11:57:06 | Updated: July 31, 2018 09:59:01


Picture used for illustrative purpose only — Collected

Bangladesh Bank will unveil its monetary policy statement for the first half (H1) of the 2018-19 fiscal, covering the period from July to December, on Tuesday.

Central bank governor Fazle Kabir will announce the monetary policy statement (MPS) at a press conference at Bangladesh Bank, UNB reports.

According to sources at the central bank, the MPS is likely to continue the cautionary monetary policy geared towards arresting any significant uptick in the rate of inflation, that has been the norm over the course of the current governor's tenure, and even earlier.

The imperative to keep prices under control is even greater this time, against the backdrop of the coming general election likely anytime between December and January next.

"This time containing inflation will be the biggest priority for the economy's custodians, alongside continued efforts for attracting investment," a senior official at Bangladesh Bank said, on condition of anonymity since he is not authorised to speak on the matter.

The central bank has adopted the current 'cautionary' policy to support the targeted GDP growth by ensuring quality credit for the productive sector.

 

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