BB unveils monetary program for 2019-20 fiscal year
The Bangladesh Bank (BB) has set the targets of credit growth in public and private sectors at 24.3% and 14.8% respectively.
Bangladesh Bank (BB) Governor Fazle Kabir unveiled the monetary policy statement (MPS) at a press conference held at its headquarters in Dhaka on Wednesday.
The governor said the BB has decided to enforce one monetary program every financial year, effective from the current fiscal, instead of twice every fiscal.
Governor Fazle Kabir further said the new monetary policy statement is accommodative in order to facilitate the government's 8.2% GDP growth target.
Traditionally, the Bangladesh Bank has long been in practice to announce two MPS -- one in January and another in July -- every fiscal year.
In the last policy statement, the private credit growth target was 16.5% while the target for the public sector was 20% till June this year.