Expect no flexibility in upcoming monetary policy: Governor Adhikari

Published On: June 25, 2024 08:22 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 25: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has indicated that a flexible monetary policy should not be expected.

Speaking at a program organized by the Society of Economic Journalists-Nepal (SEJON) in Kathmandu on Tuesday, Governor Adhikari said that the rising inflation necessitates a tight monetary policy, making flexibility unlikely.

He said that the forthcoming monetary policy will be influenced by the current inflation data, which is under review.

“The preparation for the monetary policy is underway, with an ongoing evaluation of the statistics,” said Adhikari. He said that while there are high expectations for the central bank to ease loan issues, the NRB has its limitations.

Governor Adhikari also highlighted the central bank's readiness to address genuine issues faced by the private sector, emphasizing that the bank is focused on solving real problems rather than engaging in opposition for opposition's sake.

He addressed concerns about commissions taken when acquiring loans, calling it a major banking offense and urging those with evidence to come forward, noting that accusations without evidence on public platforms would not result in action.


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