New monetary policy today

Bangladesh Bank is set to announce the monetary policy for the second half (January-June) of the current fiscal year 2023-24 today (16 January).

The central bank governor Abdur Rauf Talukder will declare the monetary policy around 3:00pm.

Controlling inflation will be one of the goals of this monetary policy. The central bank tries to protect the economic development and stability of the country by announcing the monetary policy twice a year.

Sources said that the central bank's board meeting approved the draft of the monetary policy at the beginning of this week. The monetary policy is going to announce at a time of dollar crisis, high inflation. There is a plan to increase the policy interest rate to make the taka more expensive. So that inflation rate can be reduced. However, the other policies will continue as usual.

It is expected that inflation will come down to 6% during the rest of the current fiscal year with the measures being mulled.

Although the central bank governor earlier said they had taken steps to control inflation to 8% by December, the latest data of the Bangladesh Bureau of Statistics shows that inflation stood at 9.41% in the month.