New monetary policy announced with increased policy rate

Bangladesh Bank announced the monetary policy for the second half (January-June) of the current fiscal year 2023-24 on Wednesday (January 16).

BB Governor Abdur Rauf Talukder declared the monetary policy on Wednesday afternoon.

Controlling inflation is our main goal.  The policy interest rate has been raised in a bid to control inflation.  We are trying to protect the economic development and stability of the country by announcing the monetary policy twice a year, he said.

According to the announcement, the central bank has raised the policy rate by 25 basis points to 8 per cent from 7.75 per cent.

The central bank has also announced to introduction new exchange rate mechanism named the crawling peg.