BB to set policies for market-based interest rates

Bangladesh Bank today said it would roll out a set of policies on the implementation of market-based interest rates and uniform exchange rates and disclosing net and gross reserves following the suggestions of the International Monetary Fund (IMF).

Md Mezbaul Haque, the spokesperson of the central bank, said the policies might be implemented from July this year and the next monetary policy will give a roadmap to this end.

The central bank usually declares the monetary policy in July every year.

Haque disclosed the issues at a press briefing at the central bank headquarters in the capital after meetings between the officials of the IMF and the BB.

Asked about the unrealised export proceeds, he said the IMF did not have any observations about the unrealised export earnings of $3 billion.

As per the central bank's calculation, the actual unrealised amount of export earnings now stands at $1.4 billion, he said.