Like the rest of the world, the central bank was not prepared for the foreign disease. After a cagey start, the central bank came into its own, taking a host of measure that prevented the high-flying Bangladesh economy from crashlanding. “The Bangladesh Bank played an important role in keeping the financial sector in a strong position amid the ongoing pandemic,” said Bangladesh Bank spokesperson Md. The bank rate, which is another major tool of the central bank, was cut after 17 years as part of the expansionary monetary policy. “But there is no denying that the central bank had taken time-befitting initiatives to tackle the impact of the pandemic.”

Source: Dhaka Tribune December 27, 2020 20:03 UTC