Bangladesh Bank Governor Dr Ahsan H Mansur has expressed his optimism that the overall level to level inflation rate would arrive down below 5% by the next fiscal one year (2025-26).
“Our aims are to bring inflation down to 7% by next June. We will bring it down to five% by the next fiscal one year [2025-26] and I am hoping it’s some distance imaginable. We’re imposing diversified protection measures to this discontinue,” he acknowledged whereas talking to BSS in an interview at the central bank headquarters.
In step with the latest records from the Bangladesh Bureau of Statistics (BBS), the overall level-to-level inflation rate in Bangladesh a shrimp elevated in November because it reached 11.38% from 10.87% in October 2024.
The amplify was once primarily pushed by a rise in food inflation, which elevated to 13.80% in November from 12.66% in October.
Meanwhile, the non-food inflation rate also confirmed a little amplify reaching 9.39% in November from 9.34% in October.
Mansur acknowledged as a result of floods across the nation adversarial food grains and greens outputs, the costs of greens and food objects are high in the market.
“Nevertheless, it would perhaps arrive down soon. If we are able to bring inflation down to 7%, then we’ll lower the bank’s interest rates and protection rates,” he added.
He acknowledged the central bank has reviewed the trouble in many international locations, including the US, the UK, European Union or Thailand.
“We now occupy found that it takes at the very least one year to bring down inflation to a desired diploma. So, we’ve to enable that clear time,” he added.
Mansur acknowledged inflation has no longer yet arrive down even supposing monetary insurance policies were tightened moreover to the fiscal measures are being applied to manage home borrowings.
“We now occupy already made the monetary protection very tight. We now occupy elevated the protection rate. I’m staring at the trouble and I have faith I will peep till the January records comes. As much as now it has been disappointing,” he added.
Explaining these, the central bank governor acknowledged right here is for two reasons since the outdated executive manipulated records.
“Now there is now not any such thing as a restriction. So, last one year was once low, this one year is true and we’re ready for the economic system to react to the doses of commercial protection tightening this time,” he added.
Other than tightening the monetary protection, Mansur acknowledged the manager has also removed import duties on very crucial food objects admire onions, vegetable oil, and sugar to abet ease inflationary pressures on the commoners.
