Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Bangladesh Bank (BB) has increased the policy rate by 50 basis points to reach 9.0 per cent in a move to contain growing inflationary pressures.
The Monetary Policy Committee, led by Governor Dr Ahsan H Mansur, revised up the policy rate, or repo rate, during a meeting at the BB headquarters on Sunday.
The new policy rate will come into effect from Tuesday (August 27, 2024) as the nation will observe a national holiday on Monday.
With the change in the policy rate, the interest rate corridor (IRC) will also be adjusted.
The Standing Lending Facility (SLF), the upper ceiling of the corridor, will rise to 10.50 per cent from the current 10.0 per cent, while the Standing Deposit Facility (SDF), the floor rate of the corridor, will increase to 7.50 per cent from the existing 7.0 per cent.