BB to unveil six-month MPS on Jan 28

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The Bangladesh Bank will unveil its monetary policy statement for the second half of the current fiscal year (2014-2015) next Wednesday (January 28), with steps expected to focus on stimulating both local and foreign direct investment (FDI).

However, containing inflation and extending financial inclusion will be two other core areas of the new policy that the central bank will lay particular emphasis on.

Bangladesh Bank governor Dr. Atiur Rahman will officially announce the new Monetary Policy Statement (MPS) at the central bank premises.

Bangladesh Bank officials said that the team responsible for guiding monetary policy has already had thorough interactions with different stakeholders of the economy.

“We’ve already discussed different issues with leading chambers, renowned economists, researchers and also with common people to accommodate their views in the policy,” an official involved in the process told UNB.

He also dropped an indication that the policy takes into consideration the shocks accruing to the economy as a fallout of the ongoing political impasse.

Earlier on July 26, the Bangladesh Bank announced a six-month monetary policy statement targeting reduction in inflation, promoting investment through private sector credit growth and continuing efforts for a more inclusive financial system for maintaining market stability.

That MPS targeted inflation to be contained at 6.5 percent, reversing its upward trend at the time touching 7.3 percent.

It targeted “a monetary growth path which aims to bring average inflation down to 6.5 percent” by June 2015.