Monday, 30 January, 2023
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Interest cap will be lifted at 'a good time': BB Governor

Interest cap will be lifted at 'a good time': BB Governor

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Bangladesh Bank (BB) Governor Abdur Rouf Talukder said on Thursday 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 while speaking at a three-day annual development conference organised by Bangladesh Institute of Development Studies (BIDS) at a hotel in the city.

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.