Monetary Policy 3rd Quarterly Review: Bank Rate Falls to 7.5% (Full Script)

May 12, 2023 12:26 PM Merolagani

Nepal Rastra Bank (NRB) has decided to bring down the bank rates to 7.5 percent through the third quarter review of the Monetary Policy.

The bank cut the bank rate by one percentage point.

Previously, the central bank was providing a daily liquidity facility at 8.5 percent bank rate which it brought down to a 7 percent policy rate. As a result, the interbank interest rate came down by 1.5 percent point. The bank has continued the provision of providing daily liquidity facility at policy rate which will help to bring down the interest rates of banks and financial institutions.

Moreover, NRB has allowed commercial banks to calculate debenture in CD ratio till the end of Poush to prevent a liquidity crisis. Earlier the bank had capped the provision till Ashad's end.

This will allow commercial banks to lend more loans in the coming days.

 


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