A meeting was held on Sunday between Chief Adviser of the interim government Prof Muhammad Yunus and the Governor of Bangladesh Bank Ahsan H Mansur, regarding the overall economic situation of the country.
A consensus was reached that the current inflation of the country should be brought down through proper management of demand and supply.
For this, a contractionary monetary policy will be pursued and at the same time the supply situation should be improved. Appropriate action has been taken in this regard. But everyone needs to be patient to reap the benefits of inflation.
Similarly, initiatives have been taken to increase liquidity in the foreign exchange market, the governor told the chief adviser.
The existing band for inter-bank foreign exchange transactions has been increased from 1% to 2.5%. It is expected that liquidity will return to the interbank foreign exchange market very soon and the volume of exchange will also increase rapidly, Mansur also informed.
Additionally, the current state of the banking sector was discussed in detail in the context of which the issue of reforms came up.
A banking commission will be formed to take swift action to bring about sustainable reforms in the banking sector, the governor further stated.
A vision on the overall situation and reforms of the financial sector will be prepared which will be released within 100 days of the formation of the interim government.