Regulatory Alerts2023-10-04
Added
MPD Circular No. 03: Refixation of Interest Rate Corridor
The Monetary Policy Committee has increased the short-term interest rate corridor by 75 basis points, raising the upper limit from 6.50% to 7.25%, the Standing Lending Facility rate from 8.50% to 9.25%, and the Standing Deposit Facility rate from 4.50% to 5.25%. This decision was taken during the 60th meeting of the Monetary Policy Committee held on October 4, 2023. The revised interest rate corridor becomes effective on October 5, 2023.
MONETARY POLICY COMMITTEE Bangladesh Bank Head Office, Dhaka. website: www.bb.org.bd Monetary Policy Circular No. 03 Dated: 04 October 2023 19 Aghran 1430 To Chief Executive Officers / Chief Executive Officers All Scheduled Banks, Non-Bank Financial Companies and Other Institutions in Bangladesh.
Subject: Refixation of Short-Term Interest Rate Corridor.
Dear Sir,
Reference is made to Monetary Policy Circular No. 02 dated 20 June 2023 regarding the short-term interest rate corridor.
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At the 60th meeting of the Monetary Policy Committee held today, 04 October 2023, it was decided to increase the short-term interest rate corridor by 75 basis points. Accordingly, the upper limit of the short-term interest rate corridor is fixed at 7.25%, the Standing Lending Facility (SLF) rate at 9.25%, and the Standing Deposit Facility (SDF) rate at 5.25%.
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The above decision will be effective from tomorrow, 05 October 2023.
Yours faithfully,
(K.M. Abdur Rouf) Deputy Governor (Monetary) Fax: 9530059