Bangladesh Bank to announce new monetary policy Thursday

The Bangladesh Bank will announce on Thursday a monetary policy for the first half of the 2015-16 financial year.

The central bank issued a press statement on Wednesday saying Governor Atiur Rahman would unveil the half-yearly policy.

Meanwhile, the governor said at a programme that the new monetary policy would encourage the productive sector.

He said the major challenge would be to tackle the problem of surplus.

Surplus had been revealed by various financial-sector indicators with banks especially showing surplus liquidity, he said.

Rahman said the prevailing stability in the overall economy — including inflation and foreign currency exchange rate — should not be disturbed.

The governor’s speech also hinted at the introduction of several new measures.

He said, “We have introduced a new stream of central banking. One of its features is sustainable financing for a sustainable economy.”

“So there will be mid- and long-term systems.”

Through the policy, the central bank governor will declare two separate funds of $300 million and $200 million.

Earlier, the Bangladesh Bank had labelled the recent monetary policy for the January-June term of the 2014-15 fiscal as modest and cautious.

The policy had enabled the required cash flow to the productive sector.

Source: Bd news24

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