BB to unveil monetary policy for H2 today
BSS
Bangladesh Bank (BB) Governor Fazle Kabir will unveil the Monetary Policy Statement (MPS) for the second half (H2) of the financial year 2016-17 (FY17) today at 11 am at the central bank headquarters in the city, reports BSS.
The governor would also brief journalists about the focus areas of the MPS, said a central bank release.
Earlier, a BB senior official told the news agency that the monetary policy has been prepared to give special importance to various sectors, including investment, Small and Medium Enterprise (SME) and idle money in the banking system, to help accelerate growth and investment.
The central bank will stick to its cautiously accommodative stance in the MPS, which will be constant to the previous policy directives, said the BB official.
On July 26 in 2016, the central bank unveiled MPS for the first half of the FY17 when Governor Fazle Kabir made it clear that the MPS would pursue cautiously accommodative stance in credit expansion to keep inflation at a comfortable level. In the MPS, the central bank projected 16.5 per cent credit growth to private sector while the overall credit growth was targeted at 16.4 percent.
The MPS for January-June period for FY17 would maintain the similar stand, with adopting cautious and restrained monetary stance and ensuring adequacy of credit growth, but avoiding excessive monetary expansion, said the BB official.
