BB’s monetary policy to help boost employment

BB’s monetary policy to help boost employment

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Dhaka – The Bangladesh Bank has unveiled its monetary policy aiming to create more employment opportunities by boosting investment, particularly in productive sectors.“It’s a growth-supportive and stability-focused monetary policy,” Bangladesh Bank (BB) Governor Fazle Kabir said while announcing the monetary policy statement (MPS) for the July-December period of the ongoing fiscal year (FY) 2017-18 at a press conference held at the central bank headquarters in Dhaka Wednesday.
The central bank believes that the projected credit flow particularly to the private sector will be able to help achieve 7.4 per cent GDP (gross domestic product) growth by the end of this fiscal.
The private-sector-credit growth target has been fixed at 16.2 per cent and 16.3 per cent for December 2017 and June 2018 respectively, according to the new MPS for the first-half (H1) of the FY 18.
The BB has set the latest private sector credit growth target taking into account the credit growth in May this year, Faisal Ahmed, chief economist of the central bank, explained.
The last MPS for the second half (H2) of the last fiscal year had set a private-sector-credit growth target at 16.50 per cent at the end of June 2017.
The policy rates remained unchanged in the MPS but it may change over time depending on the overall macroeconomic environment, the central bank governor noted – GW News Dest

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