BB unveils growth-supportive monetary policy for H1

FE Online Report | Published: July 31, 2018 13:56:39 | Updated: August 01, 2018 09:44:56

The central bank of Bangladesh on Tuesday unveiled a growth-supportive and restrained monetary policy for the first-half (H1) of the current fiscal year (FY) to cope with challenges ahead of the general election.

“The monetary policy will be restrained like the previous one to facilitate economic growth with curbing inflation,” Bangladesh Bank (BB) Governor Fazle Kabir said while formally announcing the monetary policy statement (MPS) for the July-December period of the fiscal year (FY) 2018-19 at a press conference held at the central bank headquarters in Dhaka city.

Policy rates, including CRR (Cash reserve requirement) and Repo, have been kept unchanged.

To ensure quality of credit, the central bank chief laid emphasis on further intensified monitoring and supervision from other government agencies like National Board of Revenue (NBR) and Ministry of Commerce.  

“We’ve already strengthened our monitoring and supervision to ensure credit flow to the productive and employment generating areas,” the governor explained.

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