General

BB to unveil monetary policy for H2 on Jan 29

DHAKA, Jan 24, 2017 (BSS) - Bangladesh Bank (BB) Governor Fazle Kabir will unveil the Monetary Policy Statement (MPS) for the second half (H2) of the financial year 2016-17 (FY17) on January 29 at 11 am at the central bank headquarters in the city.

The governor would also brief journalists about the focus areas of the MPS, said a press release here today.

Earlier, a BB senior official told BSS that the monetary policy has 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 MPS, which will be constant to the previous policy directives," said BB sources.

On July 26 in 2016, the central bank unveiled MPS for the first half of the FY17 when Governor Fazle Kabir made it clear that the MPS would pursue cautiously accommodative stance in credit expansion to keep inflation at a comfortable level.

In the MPS, the central bank projected 16.5 percent credit growth to private sector while the overall credit growth was targeted at 16.4 percent.

The MPS for January-June period for FY17 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.

Source: Bangladesh Sangbad Sangstha (BSS)