Interest cap will be lifted at ‘a good time’: BB governor
BI Desk || BusinessInsider
Abdur Rouf Talukder. Photo: File
Bangladesh Bank (BB) Governor Abdur Rouf Talukder on Thursday said the central bank will lift the interest rate cap on bank loans but this is not the right time to withdraw it.
“We are waiting for a good time. The interest cap will be lifted but this is not the right time to withdraw it,” he said.
The governor was speaking at a three-day annual development conference organised by Bangladesh Institute of Development Studies (BIDS) at a hotel in the city, reports Bangladesh Sangbad Sangstha.
He informed that BB has already relaxed the interest rate on consumer loans.
Regarding the foreign currency exchange rate, Rouf said the BB will allow the market force to determine it.
He mentioned that the central bank has never imposed any import restrictions. “It only hiked import duties on some luxury items,” he said.
BIDS Director General Dr Binayak Sen presided over the conference.