Regulatory Alerts2024-10-22
Added
MPD Circular No. 05: Re-fixation of Interest Rate Corridor (IRC)
The Monetary Policy Department of Bangladesh Bank revises the Interest Rate Corridor effective October 27, 2024. The deposit rate for Savings Deposit Accounts is increased by 50 basis points to 10.00%. The upper limit for the Standing Deposit Facility (SDF) is raised by 50 basis points to 11.50%, and the lower limit for the Standing Lending Facility (SLF) is increased by 50 basis points to 8.50%.
MONETARY POLICY DEPARTMENT BANGLADESH BANK Chief Controller of Accounts, Dhaka. website: www.bb.org.bd
MPD Circular No. 05 dated: 22 October 2024 06 Kartik 1431
To: All Chief Executive Officers / Chief Executive Officers All Scheduled Banks, Non-Bank Financial Companies and Other Institutions
Dear Sir,
With reference to your representations regarding the Savings Deposit Rate under MPD Circular No. 04 dated 24 September 2024.
- Accordingly, the Savings Deposit Rate under the 5th Monetary Policy Committee Meeting held on 25 August 2024 is increased by 50 basis points from 9.50% to 10.00% for Savings Deposit Accounts.
Furthermore, the upper limit for the Standing Deposit Facility (SDF) for Banks is increased by 50 basis points from 11.00% to 11.50%, and the lower limit for the Standing Lending Facility (SLF) is increased by 50 basis points from 8.00% to 8.50% for Savings Deposit Accounts.
- This circular will come into effect from 27 October 2024.
Yours faithfully,
(Mahmudul Haque) Deputy Governor (MPD)
Copy: 9530059