Bangladesh Bank on Monday said that it would announce a capital market- friendly monetary policy for July-December of 2014. The central bank has given importance to the capital market to form its new monetary policy, BB deputy governor SK Sur Chowdhury told reporters after the bankers meeting at the central bank headquarters in the capital. BB governor Atiur Rahman presided over the bankers meeting while managing directors and chief executive officers of all banks attended the meeting.
The BB will announce the monetary policy statement at 11.30am on July 26 at the central bank headquarters.
Fifteen banks earlier crossed their exposure limit in the capital market.
So, the BB received from them plans how they would reduce their investment by 2016 in accordance with Bank Company Act (amended) 2013.
At the meeting, the central bank reviewed the recent banks’
measures to reduce their excess exposure limit in the capital market, Sur said.
The BB asked the banks to follow the central bank directions properly in investing in the capital, he said.
A BB official told New Age on Monday that the central bank also had termed its monetary policy for January-June of 2014 as a capital market-friendly statement, but it had failed to make the market vibrant.
The capital market has reacted negatively following the announcement of the monetary policy in last few years.
-With New Age input
