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The Financial Express

BB discloses new monetary policy to curb inflation

| Updated: January 30, 2018 18:45:49


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Bangladesh Bank Governor Fazle Kabir (3rd from left) unveils Monetary Policy Statement (MPS) for the second half of current fiscal year on Monday. -FE Photo Bangladesh Bank Governor Fazle Kabir (3rd from left) unveils Monetary Policy Statement (MPS) for the second half of current fiscal year on Monday. -FE Photo

The central bank of Bangladesh has unveiled cautious and growth-supportive monetary policy aiming to curb inflation through discoursing credit flow to the less productive sectors.

“The monetary policy targets employment-focused growth with stability,” said Bangladesh Bank (BB) Governor Fazle Kabir on Monday.

 The BB Governor said this while formally announcing the monetary policy statement (MPS) for the January-June period of the FY 2017-18 at a press conference at BB’s headquarters in Dhaka.

The new policy has set private sector credit growth target at 16.8 per cent against a previous projection of 16.3 per cent.

The target, however, is lower than the growth at 18.10 per cent in December 2017.

Repo and reverse repo policy interest rates will, for the time being, have left unchanged at 6.75 and 4.75 per cent, respectively.

The central bank chief also announced that the advance-deposit-ratio (ADR) of the banks would be renationalised within a couple of days.

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