KATHMANDU: Nepal Rastra Bank (NRB) has unveiled the first quarterly review of the monetary policy for the current fiscal year 2023/24.
The release of the review report followed the endorsement of it by today's meeting of the NRB Board of Directors.
Presenting an analysis of various factors influencing the prevailing inflation, NRB, through the review, has reduced the bank rates from 7.5% to 7%, considering the current status of the Balance of Payment (BOP) and the growth rate of bank loans to the private sector. Similarly, policy rates have been maintained at 5.5% against the previous 6.5%.
The provisions regarding mandatory cash reserve ratios and statutory liquidity ratios have remained unchanged. As for the provision of counting debentures issued by banks and financial institutions (BFIs) cent per cent as a source until mid-January, it has been decided to count them 50% as a resource until the end of the current fiscal year.
