DHAKA: The first monetary policy of the new fiscal year will be announced on July 19 (Monday) with work plans to back up government efforts in implementation of the national budget.

This will be the third monetary policy to be declared by central bank Governor Dr. Atiur Rahman.

For the very first time Bangladesh Bank discussed with renowned economists, and research and business organizations before declaring the monetary policy.

According to Bangladesh Bank the monetary policy is being prepared in tune with the national budget to back up its implementation.

This half-yearly policy will give importance to five matters: controlling inflation, achieving desired GDP growth, increasing of investment in development sector, creating jobs, providing money and keeping the rate of monetary transactions stable.

“Moreover, emphasis is given on internal market monitoring, including taking various programmes to balance local finance with international economic condition,” said one source.

According to the officials importance is being given to disbursement and monitoring agricultural credits and SME loan to boost the rural and agrarian economy.  
 
A 6.7 percent GDP and 6 percent inflation rate are envisaged in the new monetary policy, in line with the budget.

In the existing monetary policy 6 percent GDP and 6 percent average inflation were estimated.

BDST 2104 HRS, JULY 16, 2010