DHAKA: Bangladesh Bank is set to announce its monetary policy on July 18 for the first half of the current fiscal year with a further tightening approach.
BB governor Dr. Atiur Rahman will announce the new monetary policy at a press conference at about 11am.
In line with last six months monetary policy, the government is set to announce the tighten policy to restrain high inflation, BB sources said.
According to source, the central bank authority held a meeting to finalize the monetary policy on Tuesday.
Earlier on Saturday, BB held its first meeting in this regard while another meeting is likely to be held on Thursday.
With BB Governor in the chair noted economists, businessmen, university teachers, bureaucrats, journalists are taking part in these meetings.
The central bank may also set the policy to achieve targeted GDP (gross domestic product) growth 7.20 percent and bring down the inflation at 7.50 percent.
The central bank may take initiative to maintain the credit flow of public sector and increase credit flow of private sector. But productive sectors will get more importance.
The target for government sector credit growth was set at 31 percent by July-December while the rate of private sector credit growth to 16 percent.
As per BBS data, the average inflation rate was stand at 10.62 percent after ending the last fiscal. But point-to-point inflation stands at 8.56 percent for last June.
BDST 1139 HRS, JULY 10, 2012
Edited by: Rubaiat Saky, Newsroom Editor
Maria Salam, Asst Output Editor
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