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Bangladesh Bank Practices Prudent Monetary Policy

Bangladesh Bank today set a target of 14.1% private sector credit growth for 2022-23, which is slightly lower than the target set for the current fiscal year.

“We have adopted a cautious monetary policy that is contractionary to some extent,” Bangladesh Bank Governor Fazle Kabir said during the release of the Monetary Policy Statement at the central bank’s headquarters in Dhaka.

He described it as a conservative policy stance with a tightening bias.

For FY22, the private sector credit growth target was 14.8%. However, growth in May stood at 12.94%.

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