2024-07-13 04:12:00
Bangladesh Bank tries to protect the economic development and stability of the country by announcing the monetary policy twice a year. Accordingly, Central Bank Governor Abdur Rauf Talukder will announce the new monetary policy for the first half of the current fiscal year 2024-25 i.e. July-December at 3 pm next Thursday (July 18). However, Bangladesh Bank has decided not to announce the monetary policy through a press conference as per the long tradition. This time the monetary policy will be announced in the presence of the concerned officials and will be published on the website.
According to the sources of Bangladesh Bank, despite repeated attempts, the reins of inflation are not being pulled. As a result, inflation control will be one of the goals of monetary policy. In the current financial year, the target has been set to bring down inflation to 6 and a half percent. The central bank will formulate the monetary policy keeping this goal in mind. However, economists say that it is not possible to bring inflation down to this target.
Acting Spokesperson of Bangladesh Bank Saiful Islam said that the preliminary decision to announce the monetary policy for the new financial year has been taken on July 18. A monetary policy meeting has already been held with the stakeholders. On July 14, the main committee meeting regarding monetary policy announcement will be held. The monetary policy will be passed in the board meeting of Bangladesh Bank on July 16.
Inflation control is now one of the main tasks of Bangladesh Bank. The central bank had aimed to reduce inflation to 8 percent in December last year and to 6 percent by June last year. Meanwhile, inflation rose to 9.93 percent last October. Headline inflation at the end of November was 9.49 percent. In December it was 9.41 percent. In June, it stood at 9.73 percent. Loan interest rates are market-based to reduce inflation. Besides, the policy interest rate has also been increased. The loan interest rate has increased by more than 14 percent.