Business Desk :
Experts on Wednesday said that Bangladesh Bank’s measures to reduce inflation and stable exchange rate are not possible by this monetary policy.
They said three burning issues- growing inflation, unstable exchange rate and interest rate are really difficult to tackle at this time.
However independent policy formulated by the central bank and strong political commitment could help control the situation.
The speakers said this at a roundtable discussion meeting on monetary policy (January- June 2024) organized by the Institute of Chartered Accountants of Bangladesh (ICAB).
Economists and businessmen have called for strong initiatives from the legislators to overcome the economic challenges in addition to increasing the decision-making skills of the central bank.
They said that the opportunity to control inflation in Bangladesh has become very limited, and ongoing monetary policy will not play any major role in controlling inflation.
Former minister of state for Planning Dr Shamsul Alam said that expatriate income is coming to the country through a combination of formal and informal ways.
“This means that the impact of inflation in the rural areas of the country is not as severe as it should have been.
But we have not yet brought inflation under control, the inflation target set in monetary policy may not be achieved” he said.
“The exports have not increased as expected. As a result, it can be said that the management of reserves has not been very good in the management that we wanted to bring to the economy,” he said.
“It cannot be said that the exchange rate is still in a position to be released on the market. The situation has not come yet to rely on exchange rates on a market basis.
