BB cuts rate for onion import

Bangladesh Bank (BB) yesterday cut the interest rate to 11 per cent from the existing 12.0 percent on the bank loans for onion import, reports BSS.
The lower rate will remain effective till December 31, a BB circular said yesterday.
Onion became dearer on the market due to supply shortfall and higher prices in the exporting countries, including in India.
The price of onions in the markets has risen sharply to Tk 25 to Tk 30 per kg over the past one week due to hike in import price and alleged hoarding by traders ahead of Eid-ul-Azha, leaving consumers to bear the brunt.

BB cuts rate for onion import

Bangladesh Bank (BB) yesterday cut the interest rate to 11 per cent from the existing 12.0 percent on the bank loans for onion import, reports BSS. The lower rate will remain effective till December 31, a BB circular said yesterday. Onion became dearer on the market due to supply shortfall and higher prices in the exporting countries, including in India. The price of onions in the markets has risen sharply to Tk 25 to Tk 30 per kg over the past one week due to hike in import price and alleged hoarding by traders ahead of Eid-ul-Azha, leaving consumers to bear the brunt.