BB forms monetary policy committee to control inflation in country

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News Desk  :
The Bangladesh Bank (BB) has constituted a formal monetary policy committee to efficiently control inflation in the country, as per the International Monetary Fund’s (IMF) recommendation.

The seven-member committee – comprising four central bank officials and three others – will be chaired by Bangladesh Bank Governor Abdur Rouf Talukder, reports media.

The Bangladesh Bank chief economist, deputy governor and executive director of the Monetary Policy Department are among the four officials.

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Apart from the central bank, the three others are Dhaka University Economics Department chairman, Bangladesh Institute of Development Studies (BIDS) director general and an economist.

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Previously, the monetary policy committee consisted of eight members who were internal officials of the central bank headed by the governor – including four deputy governors, chief economist, director and executive director of the Monetary Policy Department.

It has now reconstructed the committee adding two or three members from outside the Bangladesh Bank following the Indian model.

India has a monetary policy committee of six members of which three are from outside the central bank.

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