Kathmandu, 11 July: Governor of the Nepal Rastra Bank Maha Prasad Adhikari has stated that preparations were being made to bring monetary policy for the coming fiscal year with a focus on improving the country’s sluggish economy.
At a meeting of the Finance Committee held at Singha Durbar, Governor Adhikari said that preparations were being made to bring monetary policy to improve the economy, and the similar policy may not be introduced this time around as it was during the two years of Covi-19 pandemic. He also said that a solution should be found by raising the banks’ interest rate as the recent rise in inflation has hit the public hard.
He said that foreign exchange reserves were under pressure due to high imports. The governor said that the central bank was serious about huge amount received through remittances and credits issued by the banks and financial institutions is being used for import and consumption of daily commodities.
People’s News Monitoring Service
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