Regulatory Alerts2023-06-20
Added
MPD Circular No. 02: Introducing 'Interest Rate Corridor (IRC)'
The Bangladesh Bank introduces an Interest Rate Corridor (IRC) by setting the Overnight Rate at 6.50% (up from 6.00%), the Call Money Rate at 8.50% (down from 9.00%), and the NDF Rate at 4.50% (up from 4.25%). This symmetric corridor is established with an upper limit of 200 basis points for the Call Money Rate and a lower limit of 200 basis points for the NDF Rate. The directive becomes effective on July 1, 2023, and applies to all banks and non-bank financial institutions.
Topics
monetary
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