Bangladesh Bank today set a 14.1 per cent private sector credit growth for 2022-23, marginally down from the target fixed for the outgoing fiscal year.

"We have adopted a cautious monetary policy, which is contractionary to some extent," said Bangladesh Bank Governor Fazle Kabir while unveiling the Monetary Policy Statement at the central bank headquarters in Dhaka. 

He called it a cautious policy stance with a tightening bias.

The private sector credit growth target was 14.8 per cent for FY22. But the growth stood at 12.94 per cent in May.