Dhaka, Bangladesh (BBN) – The central bank of Bangladesh will unveil the next monetary policy on July 27 to contain inflation and helping the productive sectors for achieving maximum economic growth, officials said on Wednesday.
Bangladesh Bank (BB) Governor Atiur Rahman will announce the half-yearly (July-December) monetary policy statement (MPS) on the day aiming to gear up the country’s overall economic activities through boosting private investment from both local and foreign.
“The BB wants to keep lower inflationary pressure and higher economic growth through employment generation across the country,” a BB official told BBN in Dhaka.
He also hinted that the private sector credit growth may increase slightly in the next MPS.
The central bank earlier fixed the private sector credit growth target at 16.5 per cent for the second half-yearly MPS of the fiscal year (FY) 2013-14.
“We need to expedite investment in different productive sectors for achieving desirable economic growth by the end of this fiscal year,” another BB official said.
He also said the central bank is also giving emphasis to curb inflationary pressure on the economy for achieving sustainable economic growth.
The country's inflation as measured by consumers' price index (CPI) eased slightly in the month of June last on both the annual average and point-to-point basis mainly because of declining prices of food items.
The inflation rate came down to 7.35 per cent in June 2014 from 7.44 per cent of the previous month on the annual average basis, according to the Bangladesh Bureau of Statistics (BBS) data.
On the other hand, the point-to-point inflation rate felt to 6.97 per cent in June last from 7.48 per cent of the previous month, the BBS data showed.
BBN/SSR/AD-16July14-6:08 pm (BST)