Private sector credit growth target lowered to 9.8%

The central bank has lowered the private sector credit growth target for the July-December period 2024 to 9.8 percent, down from January-June's 10 percent to reduce the credit flow for tackling inflation.

The announcement comes today as the Bangladesh Bank unveiled the monetary policy statement (MPS) for the first half of 2024-25 fiscal year.

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Exchange rate mid-rate to remain unchanged at 117 per USD

This time, banking regulator unveiled the MPS on its website instead of arranging a press conference.

The private sector credit growth in May of last fiscal year stood at 10.35 percent, when the target was at 10 percent for the whole 2023-24 fiscal year.

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Bangladesh Bank keeps policy rates unchanged

However, the actual growth till June of last fiscal year stood at 9.8 percent.

The projected growth in public sector credit is 14.2 percent, as per the monetary policy statement.