JS body reviews central bank's monetary policy

The Parliamentary Standing Committee on the Finance Ministry on Sunday held its first to review Bangladesh Bank's monetary policy framework and discussed the future direction of monetary policy including a gradual transition from the existing interest rate-targeting framework to an inflation-targeting regime, reports UNB.
The meeting chaired by Committee Chairman Mushfiqur Rahman was held at the Jatiya Sangsad Bhaban.
At the meeting, Bangladesh Bank delivered a detailed presentation on its monetary policy, outlining the existing policy framework, its implementation and future priorities.
Following the presentation, the committee members held extensive discussions on the issues raised and exchanged views on the country's monetary policy and financial sector.
According to the presentation, an appropriate monetary policy framework is indispensable for achieving the government's vision of transforming Bangladesh into a trillion-dollar economy.
To support that goal, Bangladesh Bank highlighted the need for a gradual transition from the current interest rate-targeting monetary policy framework to an inflation-targeting framework.
The central bank noted that a number of emerging economies have successfully stabilised inflation in recent years by adopting inflation-targeting monetary policy frameworks.