Another tight monetary policy to be unveiled Jan 31Staff Correspondent
Bangladesh Bank is going to announce another contractionary monetary policy on January 31 for its monetary programme in January-June of this year, said central bank officials.
The BB will declare the tight monetary policy for the fourth time in a row to contain the inflationary pressure, a central bank official told New Age on Wednesday.
He said the credit growth in the private sector in the new monetary programme might be around 18 per cent.
The businessmen and economists have been demanding for long to increase the private sector credit growth ranging between 22 per cent and 25 per cent.
Under the monetary programme for July-December of 2012, the central bank set 18.3 per cent credit growth for the private sector and made a credit growth projection of 18 per cent for January-June of 2013.
BB data showed that the credit growth in the private sector had decreased to 19.68 per cent in FY 2011-12 from that of 25.84 per cent in FY 2010-11. The private sector credit growth in FY 2009-10 was 24.2 per cent.
The credit growth in the private sector decreased to 17.41 per cent in November 2012 from that of 18.38 per cent in the previous month of 2012 due mainly to a lower import growth in the period.
BB general manger AFM Asaduzzaman told New Age on Wednesday that the central bank governor Atiur Rahman had recently discussed with the economists, bankers and journalists in a series of meetings on January 17, 18 and 19 regarding the upcoming monetary policy.
The BB has taken the opinions from the persons with due importance and the policy will be declared on January 31, he said.
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