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Bangladesh Bank is likely to announce monetary policy for the second half of the current fiscal year 2018-2019 on January 30 amid falling private sector credit growth. Expediting credit growth flow for the private sector would be a major consideration of the central bank as creating new job opportunities largely depends on private sector investments, officials of BB said.


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Although BB, in its monetary policy statement for the July-December period projected to support 16.8 per cent credit flow in the private sector, the actual growth was far lower than the projection.
At the end of December, the last month of the monetary policy for the first half, private sector credit growth declined to 13.2 per cent, the lowest in 39 months.
Businesses were cautious in expanding their bank credit before the national polls held on December 30 of the immediate past year along with liquidity crisis in the banks ahead of advance deposit ratio adjustment by March this year. These were the major reasons behind the fall in private sector growth.
Bangladesh Bank governor Fazle Kabir will unveil the monetary policy statement for January-June of the FY19.
BB officials related to the monetary policy formulation held meetings in this regard aiming at supporting government’s budgetary targets.
On the other hand, supporting government’s budgetary targets to achieve targeted growth would be the main consideration of the central bank in the upcoming monetary policy for the period of January-June of the FY19.
Although the government’s budgetary target was to attain 7.8 per cent GDP growth, newly appointed finance minister AHM Mustafa Kamal after taking charge said that the country’s GDP growth would be around 8.5 per cent.
The country’s inflation, however, was consistent with the July-December monetary policy.
In December, point-to-point inflation in the country further declined to 5.35 per cent from that of 5.37 per cent in November. In the monetary policy it was targeted to keep inflation within 5.6 per cent.
Although there was anticipation that inflation would be increase with the increase money flow before the national polls.
The government’s target was to keep inflation within 5.5 per cent in FY18, while the actual inflation was 5.78 per cent.

Report by - //dailysurma.com

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