Bangladesh Bank Lifts Repo Rate 50bps to 7.75%

The Central Bank of Bangladesh increased its repurchase rate by 50 basis points to 7.75% from 7.25% previously; also lifting the reverse repo rate by the same margin to 5.75% from 5.25 percent. The Bank also moved on Wednesday to repeal interest rate caps on bank loans, which is designed to add a further contractionary impulse to the monetary policy mix.