Mansur, a former economist at the International Monetary Fund, said interest rates would rise. This may slow the economy further, but it is necessary to overcome the challenges.
The central bank took the decision as people have been struggling with the high level of prices for around two years.
Thanks to bold reform measures taken by the authorities, the IMF has drastically slashed the Net International Reserves (NIR) requirement for Bangladesh for the fourth tranche of the $4.7 billion loans.
Bangladesh yesterday made three major decisions to cushion the economy against critical risks such as stubborn inflation and depletion of foreign currency reserves.
PRI Executive Director Ahsan H Mansur says
Bangladesh Bank today raised the policy rate by 50 basis points to 8.5 percent to bring down the runaway inflation
The Bangladesh Bank yesterday announced an array of measures to bolster its fight against stubbornly high inflation, a major headache for the new government.
Bangladesh Bank also raised the benchmark policy rate by 25 basis points to 8 percent
Bangladesh Bank unveiled the monetary policy for the second half of the current fiscal year
Mansur, a former economist at the International Monetary Fund, said interest rates would rise. This may slow the economy further, but it is necessary to overcome the challenges.
The central bank took the decision as people have been struggling with the high level of prices for around two years.
Bangladesh yesterday made three major decisions to cushion the economy against critical risks such as stubborn inflation and depletion of foreign currency reserves.
Thanks to bold reform measures taken by the authorities, the IMF has drastically slashed the Net International Reserves (NIR) requirement for Bangladesh for the fourth tranche of the $4.7 billion loans.
PRI Executive Director Ahsan H Mansur says
Bangladesh Bank today raised the policy rate by 50 basis points to 8.5 percent to bring down the runaway inflation
The Bangladesh Bank yesterday announced an array of measures to bolster its fight against stubbornly high inflation, a major headache for the new government.
Bangladesh Bank also raised the benchmark policy rate by 25 basis points to 8 percent
Bangladesh Bank unveiled the monetary policy for the second half of the current fiscal year
To tame inflation, BB is likely to increase the policy rate further
