MPD Circular No. 04: Re-fixation of Interest Rate Corridor (IRC)

MONETARY POLICY DEPARTMENT
Bangladesh Bank
Chief Controller of Accounts, Dhaka. website: www.bb.org.bd

Monetary Policy Circular No. 04 dated: 24 November 2024 09 Aina 1431

To
All Chief Executive Officers / Chief Executive Officers All Scheduled Banks, Non-Bank Financial Institutions and Other Companies registered with Bangladesh Bank.

Subject: Re-fixation of Interest Rate Corridor (IRC).

Sir,

Please refer to Monetary Policy Circular No. 03 dated 25 August 2024 regarding the re-fixation of the Interest Rate Corridor (IRC).\ In this regard, the following points are noted.

2. In view of the above, the upper limit of the Interest Rate Corridor (IRC) for deposits has been revised. The upper limit for the Short-Term Deposit Fixed Deposit (STDF) has been increased from 9.00% to 9.50%. The upper limit for the Long-Term Deposit Fixed Deposit (LTDF) has been increased from 10.50% to 11.00%. Furthermore, the lower limit for the Short-Term Deposit Fixed Deposit (STDF) has been increased from 7.50% to 8.00%.

3. This circular will come into effect from 25 November 2024.

Yours faithfully,

(Mahmuda Parvin)
Deputy Governor (Monetary Policy)

Copy: 9530059