DHAKA: Bangladesh Bank (BB) on Monday announced the monetary policy statement for the second half (January-June) of 2014 fiscal year.

Governor of the central bank Dr Atiur Rahman made the announcement of the monetary policy in a press conference in the afternoon.

He said, “The image crisis that is prevailing in the business sector of the country will be regained in the later half of the fiscal year.”

He also predicted that the inflation rate also will be within the targeted amount.

Sources said targeted rate of inflation in the current budget was seven percent and projected growth rate was 7.2 percent.

Terming the present monetary policy as ‘cautious,’ he declared that the growth of credit rate in the private sector was fixed to 17 percent. Annual growth rate of credit in 2012-13FY was 18.3 percent.

Dr Atiur said this reduction was due to the political turmoil that the country experienced in the first half of 2013-14FY.

Change management advisor of BB Allah Malik Kazemi, chief economist Dr Hassan Zaman and other high ups of the bank were among others present at the press meet.

BDST: 1813 HRS, JAN 27, 2014