Bangladesh Bank likely to announce new monetary policy on July 25

The central bank is likely to announce its Monetary Policy Statement (MPS) for the first half (July-December) of the new 2017-18 fiscal year on July 25. Monetary policy plays a vital role in controlling the supply of money, often by setting up a target of inflation rate or interest rate, to ensure price stability and general trust in the currency. Bangladesh Bank Governor Fazle Kabir will announce the MPS. The central bank has been holding meetings with stakeholders and economists to make the policy more effective for the country’s future economic development. BB organised a view-exchange programme ahead of the announcement at a city hotel on Sunday. Former finance adviser to the caretaker government AB Mirza Azizul Islam, former BB governor Salehuddin Ahmed, executive director of Policy Research Institute (PRI) Ahsan H Mansur and former BB deputy governor Khandaker Ibrahim Khaled, among others, were present. "We are going to announce MPS for the first half of the current fiscal year at the end of this month," a senior executive of the central bank told the Dhaka Tribune. "Different proposals have already been made by the stakeholders. We will finalise the statement after analysing the suggestions,” the official added.