BB to hike policy rate twice within next month

Bangladesh Bank will increase policy rate twice and interest rate for once within the next month in order to tame high inflation in the country, said Ahsan H Mansur, governor of the central bank.

"There is no doubt that we are going to tighten the monetary policy more. We will increase it by this week and will do it again in the next month," Mansur said.

Besides, interest rate will also be increased again soon, he said while addressing a press conference held the BB headquarters in Dhaka today after holding a meeting of the taskforce constituted as a part of reforms in the banking sector.

Earlier on August 24 this year, Bangladesh Bank hiked the policy or repo rate—at which commercial banks borrow from the central bank—by 50 basis points to 9 percent to rein in inflation.

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