“The good news is that financial losses have already been reduced and the critical risks in the financial sector have been addressed,” Husne Ara Shikha, executive director and spokesperson for the central bank, told journalists.
The bank, however, is not entirely satisfied with the progress so far, she noted.
The bank had implemented several measures between July and November last year to stabilise the economy. These include restructuring of commercial banks, formation of a specialised banking task force, efforts to stabilise the foreign exchange market and inflation control strategies.
“Some of these initiatives have already yielded results, but other outcomes will require more time to manifest,” Shikha was quoted as saying by domestic media outlets.
“We are hopeful that inflation will ease this January. However, if it remains unchecked, further hikes in the policy interest rate may be necessary,’ she cautioned.
ALCHEMPro News Desk (DS)
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