Next monetary policy to be capital market-friendly

The central bank's next monetary policy will be capital market-friendly, a top central banker said.
The Bangladesh Bank (BB) has now decided to announce its first half-yearly monetary policy on July 26, instead of July 27.
"We'll announce the monetary policy that will be a capital market-friendly," BB deputy governor SK Sur Chowdhury disclosed while speaking at a press briefing after a bankers' meeting Monday.
He also said the banks have been asked to bring down their overall capital market investment within 25 per cent of total capital through time-bound business plans by July 21, 2016.
Taking to the FE, another BB official said the central bank has re-fixed the date of its monetary policy announcement on July 26 instead of July 27 earlier following the upcoming Eid vacation.
BB Governor Atiur Rahman will announce the half-yearly (July-December) monetary policy statement (MPS) on the day aiming to gear up the country's overall economic activities through boosting both local and foreign private investment.
The BB official hinted that the private sector credit growth target might increase slightly in the next MPS.
The central bank earlier fixed the private sector credit growth target at 16.5 per cent for the second half-yearly MPS of the fiscal year (FY) 2013-14.
"The BB wants to contain inflation and help the productive sectors in achieving maximum economic growth through employment generation across the country," the central banker noted.
He also said the central bank is extending its policy supports aiming to bring dynamism in the country's overall economic activities through increased investment, particularly in the private sector.