Bangladesh hikes rates 50 bps to fight inflation
1/9/2012 10:17:33 AM
DHAKA: Bangladesh's central bank raised its key interest rates by half a percentage point with effect from Sunday, its fifth hike since March, as it battles to curb persistently high inflation.
The central bank said it was lifting the repo rate, which it uses to inject money into the banking system, to 7.75 percent, and increasing the reverse repo rate, through which it absorbs excess cash from banks, to 5.75 percent.
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