Bangladesh will announce a decision to raise interest rates from 8.5% to 9% in a day or two, the new Central Bank chief has told the BBC in an exclusive interview.
Dr Ahsan H. Mansur said he will raise rates further to 10% or more in the coming months to tame inflation.
Soaring prices have been a major concern for Bangladesh, with its currency also under pressure with remittances drying up and garments exports badly impacted by political unrest.
The International Monetary Fund (IMF) had asked Bangladesh to tighten its monetary policy and keep exchange rates flexible while extending a $4.7bn (£3.6bn) bailout for the South Asian nation.
Dr Mansur said he was in conversation with the body to “augment” and “front load” this amount by an additional $3bn.
