Photo: Collected-
Metropolis Report-
With the lowering of the bank loan interest cap and an increase in the repo rate, Bangladesh Bank has announced its monetary policy for the first half of the fiscal year 2023–2024.
The reverse repo rate has raised by 25 basis points to 4.50 percent, and the repo rate has increased by 50 basis points to 6.5%.
The “SMART” (six-month moving average rate of Treasury bill) reference rate, to be used as the benchmark for all bank loan kinds, will be implemented by Bangladesh Bank.
The exchange rate between the taka and the US dollar or any other foreign currency will be decided by market forces under the central bank’s unified and market-driven single exchange rate regime.
