Regulatory Alerts2023-01-15
Added
MPD Circular No. 01: Refixation of Repo and Reverse Repo interest rates of Bangladesh Bank
Bangladesh Bank increases the overnight repo interest rate from 5.75 percent to 6.00 percent and the overnight reverse repo interest rate from 4.00 percent to 4.25 percent, each by a 25 basis point increase. This refixation is effective from January 16, 2023, and applies to all deposit money banks, primary dealers, and other institutions established under the Bangladesh Bank Company Act.
MONETARY POLICY DEPARTMENT BANGLADESH BANK HEAD OFFICE DHAKA. website: www.bb.org.bd
Monetary Policy Department Circular No. 01 Dated: 15 January 2023 01 1429
To, Managing Director/Chief Executive All Scheduled Banks, Non-Bank Financial Companies and Other Institutions established under the Bangladesh Bank Company Act.
Subject: Refixation of Repo and Reverse Repo interest rates of Bangladesh Bank.
Sir,
Reference is made to Monetary Policy Department Circular No. 03 dated 29 December 2022 and Monetary Policy Department Circular No. 05 dated 29 July 2020 regarding the Repo and Reverse Repo interest rates of Bangladesh Bank.
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Accordingly, in light of the decision taken at the 57th meeting of the Monetary Policy Committee held on 11 January 2023, the overnight repo interest rate of Bangladesh Bank is increased from 5.75 percent to 6.00 percent, and the overnight reverse repo interest rate is increased from 4.00 percent to 4.25 percent, each by a 25 basis point increase.
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This circular will be effective from 16 January 2023.
Yours faithfully,
(K.M. Abdur Rouf) Deputy Governor (Operations) Ref: 9530059