Bangladesh Bank set to unveil monetary policy

Bangladesh Bank is set to announce the monetary policy statement (MPS) for the first half of the 2024-25 fiscal year at 3pm today.

The central bank is expected to maintain a tight monetary stance for July-December as inflationary pressure shows no signs of cooling.

Annual inflation rose to 9.73 percent in 2023-24, the highest since 2011-12, overshooting the government's target of containing it to 7.5 percent.

The monetary policy committee of the BB finalised the MPS on July 14, and it was discussed at a meeting of the BB's board of directors on July 16.

Moving away from its tradition, the central bank will publish the MPS on its website for the first time instead of unveiling it at a press conference. The banking regulator did not give any reason.

The briefing is allegedly not taking place this time as a group of journalists have decided to boycott the event in protest of the restriction facing reporters while entering the premises of the central bank headquarters in Dhaka.