Briefing 2023-06-17
Saturday, 17 June 2023
Prospect of rate hike rattles market
Stocks plunged more than 1.0 per cent in the outgoing week to Thursday, the biggest single-week fall in nearly seven months, as jittery investors rushed to dump their holdings amid the prospect of interest rate hike in the new monetary policy statement. The Bangladesh Bank is set to introduce a new interest rate system after a pause of three years in the monetary policy scheduled to be unveiled tomorrow (Sunday). Page 9
Oil heads for weekly gain
Oil edged higher on Friday and was on course for a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices, despite expected weakness in the global economy and the prospect for further interest rate hikes. Brent crude gained 35 cents to $76.02 a barrel by 10:50 a.m. EDT (1450 GMT). Page 15
Train on Ctg-Cox's Bazar route likely in Sept
The trial train run on Chattogram-Dohazari-Cox's Bazar-Ghumdhum (CDCG) route is expected to begin in September as the construction work of the project is going on in full swing. The project director said over 85 per cent of the construction has been completed. Page 20