Bangladesh Seeks to Tame Inflation With Fifth Rate Hike in 2024
Consumer prices in Bangladesh rose 9.9% in September, from a year earlier.
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Bangladesh’s central bank increased the key policy rate for the fifth time this year to cool prices as high inflation remain a key concern for the interim government led by Muhammad Yunus.
Bangladesh Bank raised the overnight repurchase agreement rate by 50 basis points to 10%, effective from Oct. 27. The rate hike decision is part of “efforts to continue a contractionary monetary policy to bring inflation down to a desired level,” the central bank said in a statement Tuesday.