FE Report (January 30, 2011)
The central bank is set to unveil the second half-yearly monetary policy aiming to keep price stable and create employment opportunities through an inclusive economic growth, officials said.
Bangladesh Bank (BB) Governor Atiur Rahman will announce the half-yearly (January-June) monetary policy today (Sunday) to help productive sectors achieve such economic growth.
"We want to achieve inclusive economic growth through promoting financial inclusion by strengthening different credit programmes particularly in the productive sectors across the country," a senior official of the Bangladesh Bank (BB) told the FE Saturday.
He also said such credit programmes particularly in small and medium enterprises (SME) and agriculture sector will help create job opportunity, which will also help increase the purchasing power of the people.
"The new monetary policy was designed giving top priority to curb inflation and helping the productive sectors achieve maximum economic growth," the BB official added.
The country's inflation as measured by consumers' price index (CPI) moved slightly in the month of November last mainly because of increase in prices of food items.
The inflation rate moved up to 8.14 per cent in November from 8.12 per cent of the previous month on the annual average basis, according to the Bangladesh Bureau of Statistics (BBS) data.
On the other hand, point-to-point inflation rate rose to 7.54 per cent in November from 6.86 per cent in October 2010 despite declining prices of non-food items.
"We've given emphasis on curbing inflationary pressures on the economy undisputedly," the BB official said, adding that the central bank has finalised the new monetary policy in line with the stakeholders' opinions.
The central bank earlier sought opinions from stakeholders including former finance advisers of the caretaker governments, former central bank governors and leading economists, experts, journalists and trade bodies for adding a new dimension to shaping the monetary policy.
"The existing accommodative monetary policy may continue for another six months to facilitate the country's overall economic growth. But the central bank will remain vigilant on curbing inflation," another BB official said.
All indicators of the monetary policy and the exchange rate would be included in the new monetary policy statement, the central bank officials added.
Bangladesh Bank (BB) Governor Atiur Rahman will announce the half-yearly (January-June) monetary policy today (Sunday) to help productive sectors achieve such economic growth.
"We want to achieve inclusive economic growth through promoting financial inclusion by strengthening different credit programmes particularly in the productive sectors across the country," a senior official of the Bangladesh Bank (BB) told the FE Saturday.
He also said such credit programmes particularly in small and medium enterprises (SME) and agriculture sector will help create job opportunity, which will also help increase the purchasing power of the people.
"The new monetary policy was designed giving top priority to curb inflation and helping the productive sectors achieve maximum economic growth," the BB official added.
The country's inflation as measured by consumers' price index (CPI) moved slightly in the month of November last mainly because of increase in prices of food items.
The inflation rate moved up to 8.14 per cent in November from 8.12 per cent of the previous month on the annual average basis, according to the Bangladesh Bureau of Statistics (BBS) data.
On the other hand, point-to-point inflation rate rose to 7.54 per cent in November from 6.86 per cent in October 2010 despite declining prices of non-food items.
"We've given emphasis on curbing inflationary pressures on the economy undisputedly," the BB official said, adding that the central bank has finalised the new monetary policy in line with the stakeholders' opinions.
The central bank earlier sought opinions from stakeholders including former finance advisers of the caretaker governments, former central bank governors and leading economists, experts, journalists and trade bodies for adding a new dimension to shaping the monetary policy.
"The existing accommodative monetary policy may continue for another six months to facilitate the country's overall economic growth. But the central bank will remain vigilant on curbing inflation," another BB official said.
All indicators of the monetary policy and the exchange rate would be included in the new monetary policy statement, the central bank officials added.
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