BB unveils monetary policy for FY 2022-23

The Bangladesh Bank (BB) has unveiled the monetary policy for the fiscal year 2022-23 aiming to check inflation by tightening money flow in the market.

BB Governor Fazle Kabir unveiled the monetary policy at 3:00 pm on Thursday at a press conference at the central bank headquarters in Motijheel in the capital.

This is the last monetary policy announcement by the incumbent governor Fazle Kabir as his tenure will end on July 3.

Fazle Kabir said, a review of the latest state of the global and domestic economy, and the recent economic impact of floods in the northeast shows that the main challenge for the monetary policy for FY2022-23 would be to stabilise the domestic exchange rate.

At the same time, continued support for ongoing economic recovery aimed at job creation is essential for the forthcoming monetary policy, the governor added.

According to the finance minister's national budget speech, the government's desired GDP growth and inflation targets for FY 2022-23 are 7.5% and 5.6%, respectively.