Bangladesh Bank orders second rate hike

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Bangladesh Bank raised its policy rate by 50 basis points, to 5.5%, on June 30, as part of its annual monetary policy statement for the fiscal year 2022–23. The Bangladesh fiscal year begins on July 1.

This is the second consecutive month the central bank has increased its repo rate, after a 25bp hike at the end of May. The central bank said that the most recent hike was meant to “manage demand side pressures”.

According to official statistics, headline inflation reached 7.4% in May. For 2021

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