BB to unveil half-yearly monetary policy today
FE Report | Thursday, 17 July 2008
The central bank is set to unveil its half-yearly (July-December) monetary policy aiming to achieve 6.5 per cent growth of gross domestic product (GDP) through curbing inflationary pressures on the economy.
Bangladesh Bank (BB) Governor Salehuddin Ahmed will announce the monetary policy today (Thursday) without making any projection for inflation during the period.
"This will be a growth-supportive monetary policy. It will continue to help the productive sectors for the next six months to achieve the economic growth," a BB senior official told the FE Wednesday.
He also said the new monetary policy is designed to curb inflationary pressures on the economy and creation of employment, which in turn will help to increase the purchasing power of the people.
"We think that the country needs a pro-growth monetary policy for another six month to facilitate the overall economic activities after the devastating cyclone-Sidr and floods hit the country last fiscal," another BB official said.
He also said the new monetary policy will help to achieve the annual real gross domestic product (GDP) at 6.5 per cent and also keep the inflation under control.
"All indicators relating to monetary policy and exchange rate will be included in the new monetary policy statement," the official noted.
They said that the credit flow will be maintained as per requirements of the real sectors, including agriculture, ship-building, and small and medium enterprises (SMEs).
On January 10 last, the BB announced its fifth monetary policy aiming to achieve maximum growth through expansion of credit for fiscal year 2007-08 and keep inflationary pressures under control.
Bangladesh Bank (BB) Governor Salehuddin Ahmed will announce the monetary policy today (Thursday) without making any projection for inflation during the period.
"This will be a growth-supportive monetary policy. It will continue to help the productive sectors for the next six months to achieve the economic growth," a BB senior official told the FE Wednesday.
He also said the new monetary policy is designed to curb inflationary pressures on the economy and creation of employment, which in turn will help to increase the purchasing power of the people.
"We think that the country needs a pro-growth monetary policy for another six month to facilitate the overall economic activities after the devastating cyclone-Sidr and floods hit the country last fiscal," another BB official said.
He also said the new monetary policy will help to achieve the annual real gross domestic product (GDP) at 6.5 per cent and also keep the inflation under control.
"All indicators relating to monetary policy and exchange rate will be included in the new monetary policy statement," the official noted.
They said that the credit flow will be maintained as per requirements of the real sectors, including agriculture, ship-building, and small and medium enterprises (SMEs).
On January 10 last, the BB announced its fifth monetary policy aiming to achieve maximum growth through expansion of credit for fiscal year 2007-08 and keep inflationary pressures under control.