Bangladesh to raise rates, says new bank chief

Quick Summary:

Soaring prices have been a major concern for the country as its currency comes under pressure.

Bangladesh will announce a decision to raise interest rates from 8.5% to 9% in a day or two, the new central bank chief has told the BBC in an exclusive interview.

Prime Minister Sheikh Hasina’s government had cut spending and lowered the country’s fiscal deficit target to 4.6% - the lowest since 2015, according to Bloomberg.

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Article Details

Category: Business

Markets: United KingdomBangladeshJapanSingapore

Topics: Monetary Been Banks Mansur Bank Governor Bangladesh Government Rates Banking

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-21 @ 18:54:49 (1 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 670 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 22207391

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 3 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 20 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Publisher ID: #43

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