Dhaka (BBN)- The central bank is going to reduce all repo rates by 50 basis points effective immediately aiming to increase investment particularly in the productive sector.
Bangladesh Bank (BB) Governor Atiur Rahman said this when announcing the monetary policy statement (MPS) for the second half-yearly MPS for the ongoing fiscal year (FY) 2012-13 at his office in the capital Dhaka on Thursday.
The central bank has also revised its monetary program with a broad money growth target of 17.7 per cent in June 2013 compared to the first half-yearly MPS for FY `13 target of 16.5 per cent, and a new private sector growth envelope of 18.5 per cent in June 2013 compared with the original program of 18 per cent.
BBN/SSR/AD-31Jan13-4:53 pm (BST)
