BB will not print any fresh money to solve financial crisis: Governor
“Moreover, we will no longer sell dollars from the country's foreign exchange reserves to address the problems in the financial sector. Inflation will decline if the efforts taken to resolve the issues in the financial sector bring positive results,” the governor said.
The central bank will not print any fresh money to lend to the government for solving financial crisis, Bangladesh Bank (BB) Governor Ahsan H Mansur said today (24 September).
"Moreover, we will no longer sell dollars from the country's foreign exchange reserves to address the problems in the financial sector. Inflation will decline if the efforts taken to resolve the issues in the financial sector bring positive results," the governor said at a roundtable titled "Where do we want to see the banking sector?" organised by the Bangla daily Prothom Alo at its office in Dhaka.
Mansur said the strict monetary policy implemented to curb inflation may cause temporary difficulties for businesses but it will ultimately benefit the economy.
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"Reducing inflation is my primary responsibility. Various measures are being taken to achieve this. Monetary policy is already tight, and steps are being taken to tighten it further," he said.
He added that once inflation decreases, the economy as a whole will get benefit.
