BB unlikely to remove interest rate cap anytime soon

Bangladesh Bank is unlikely to lift the interest rate cap on bank loans anytime soon.

"We are waiting for a good time. The interest cap will be lifted but this is not the right time to withdraw it," BB Governor Abdur Rouf Talukder said at a conference organised by Bangladesh Institute of Development Studies (BIDS) in the capital today.

He said the BB has already relaxed the interest rate on consumer loans.

Regarding the foreign currency exchange rate, Rouf said the BB will allow the market force to determine it.

The governor further said the central bank has never imposed any import restrictions. It only hiked import duties on some luxury items.