Bangladesh Bank (BB) Governor Abdur Rouf Talukder yesterday (5 May) said the central bank will soon adopt a market-based interest rate and apply a crawling peg system to fix the foreign exchange rate. He said the BB is working with prominent economists and bankers to prepare a contractionary monetary policy measure to curb inflation and restore macroeconomic stability. Abdur
The interest rate will move to a fully market-based system "very shortly", Bangladesh Bank Governor Abdur Rouf Talukder has signalled – apparently in line with the IMF prescription over a $4.7 billion loan package. "I think we are very close to a market-based interest rate. We are expecting that very shortly we will be moving to a fully market-based interest rate," he said at
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The whole saga feels like a way to enforce a media blackout and shield the supreme banking regulatory body from public eyes. The question is does such action benefit the country?
Dr. Debapriya Bhattacharya, a distinguished fellow at the Centre for Policy Dialogue maintained this at a recent event in Dhaka.
Bhattacharya also shed light on the complexities.