Bangladesh Bank to unveil monetary policy Sunday

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Bangladesh Bank (BB) governor Fazle Kabir will unveil the monetary policy statement for the second half of the financial year 2016-17 on Sunday. The governor would also brief journalists at the central bank headquarters in the city, about the focus areas of the policy, said a central bank release.

A BB senior official earlier said that the monetary policy has been prepared to give special importance to various sectors, including investment, Small and medium enterprise (SME) and idle money in the banking system, to help accelerate growth and investment.

“The central bank will stick to its cautiously accommodative stance in the monetary policy statement, which will be constant to the previous policy directives,” said the BB official.

On 26 July 2016, the central bank unveiled the policy for the first half of the current financial year when governor Fazle Kabir made it clear that it would pursue cautiously accommodative stance in credit expansion to keep inflation at a comfortable level.

In the policy statement, the central bank projected 16.5 per cent credit growth to the private sector while the overall credit growth was targeted at 16.4 per cent. The policy for January-June 2017 period would maintain the similar stand, with adopting cautious and restrained monetary stance and ensuring adequacy of credit growth, but avoiding excessive monetary expansion, said the BB official.

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