New Monetary Policy: BB cuts rates

Bangladesh Bank (BB), the central bank of the country has cut its benchmark interest rate by half percentage point – the first move since 2013.

The BB cut its repo rate from 7.25 per cent to 6.75 per cent. The reverse repo rate was also cut to 4.75 per cent from 5.25 per cent. The bank last changed rates in February 2013.

In a monetary policy statement at the end of last year, the bank had said it was considering easing.