Inflation will surpass target in next fiscal year as well: Governor Adhikari

Published On: July 11, 2022 02:49 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, July 11: Governor of Nepal Rastra Bank (NRB) Maha Prasad Adhikari has said that the inflation will be higher than the target in the coming fiscal year as well.

He said this while speaking at a discussion held by the Finance Committee under the House of Representatives on the upcoming monetary policy with the NRB on Monday.

Governor Adhikari said that the central bank has set a target of 6.5 percent inflation in the current fiscal year but the inflation is likely to go beyond the target due to the sharp rise in inflation in the international market.

Governor Adhikari said that Nepal should also pay attention to the monetary policies of most of the world's central banks to control inflation. He said that it was difficult to tame inflation in the current fiscal year.

He said that Nepal should also pay attention to the policy of raising the bank's interest rate and removing the concessions given during the COVID-19 pandemic to control inflation.