DHAKA: Bangladesh Bank (BB) Thursday declared monetary policy for the first half of the ongoing 2015-16 fiscal, setting internal sector credit growth at maximum 16.5 percent.

BB governor Atiur Rahman declared the monetary policy at Jahangir Alam Conference Hall of the central bank.

About the policy, he says that it is cautious and growth-friendly, which will be helpful for attaining 7 percent growth in 2016.

It also fixed the average inflation target to 6.2 percent.

The central bank further said supply of foreign currency reserve may increase at 16 percent in the first half of the current fiscal year which was 13.1 percent in last fiscal.

It also sets target of internal sector credit growth at maximum 16.5 percent. Of these, private sector credit growth is predicted at 15 percent while public sector credit growth at 23.7 percent.

BB deputy governors Abu Hena Razi Hasan, SK Sur Chowdhury and Naznin Sultana, chief economist Birupaksya Paul and change management adviser Allah Malik Kazemi, among other, were present at the event.

BDST: 1620 HRS, JULY 30, 2015
RS/RR