The Monetary Policy Statement (MPS) for the second half of the current fiscal year 2024–2025 (FY25) is expected to be released by Bangladesh Bank (BB) on February 10.A top source at the central bank stated, “We have fixed a tentative date on February 10.”
Keeping its ‘contractionary’ tone, the MPS for the second half of the current fiscal year is being developed with an emphasis on combatting inflation, he continued. Dr. Ahsan H. Mansur, who took over as governor of Bangladesh Bank after the August 5 political shift last year, would announce the MPS as the first monetary policy.
According to the official, the central bank’s Monetary Policy Department is engaging with experts and internal and external stakeholders to develop the MPS. He noted that they also met for the first time with Chattogram’s economists and stakeholders.
Additionally, the central bank recently discussed possible policy measures with the nation’s top research groups at the Lakeshore Hotel in Gulshan. The South Asian Network on Economic Modelling, the Policy Research Institute of Bangladesh, and the Bangladesh Institute of Development Studies were among the organizations.
Since March 2023, Bangladesh’s inflation rate has been consistently above 9%, and the country’s central bank has not yet reduced consumer prices with its current contractionary monetary policy. Since then, Bangladesh Bank has raised the policy rate multiple times to 10%.
The interest rate at which commercial banks borrow money from the central bank is known as the policy rate. However, according to the Bangladesh Bureau of Statistics (BBS), inflation decreased somewhat to 10.89 percent in December of the recently ended calendar year from 11.38 percent the month before. The central bank freed the final MPS for the first half of the current fiscal year 2025.
Source: BSS News
