Maximizing economic growth through funneling funds particularly in productive sectors lies at the core of a new monetary policy the central bank is poised to announce today (Sunday).
With this end in view, the second half-yearly (H2) monetary policy bears a thrust on enhancing credit flow to real economic sectors, officials said.
Bangladesh Bank (BB) Governor Fazle Kabir will announce the monetary policy statement (MPS) at 11 am for the January-June period of the fiscal year (FY) 2016-17 to help real sectors in achieving sustainable economic growth with inflation held in check.
"We've formulated a growth-supportive MPS, giving top priority to facilitating investment through increasing credit flow particularly to the real economic sectors," a BB senior official told the FE Saturday.
He also said the central bank will facilitate credit flow to the productive sectors for achieving 7.2 per cent GDP (gross domestic product) growth by the end of this fiscal.
Existing liquidity situation, movement of stock market and exchange- rate position will be among the corollaries in the MPS, according to the central banker.
He also said the declining trend in inward remittance and rising trend in fuel oils and other essential commodities' prices on the global market will be focused in the next MPS.
"We're not worried right now about inflationary pressure on the economy," the BB official said while replying to a query.
Average inflation in the country, as measured by consumer-price index (CPI), came down to 5.52 per cent in December last from 5.60 per cent of the previous month. The point-to-point inflation rate also fell to 5.03 per cent-the lowest in 53 months-from 5.38 per cent in November 2016.
The government as well as the central bank had set the inflation target at 5.8 per cent for the FY17.
The central bank, however, has already taken measures to check any possible medium-term impact on inflation, the BB official added.
siddique.islam@gmail.com
