NRB seeks suggestions for monetary policy

Desk By Karuna

For monetary policy, the Nepal Rastra Bank has requested suggestions and opinions.

In accordance with the Nepal Rastra Bank Act 2058 BS, the bank has requested opinions and recommendations from the relevant parties before making the monetary policy for the fiscal year 2079–2080 BS public. The Rastra Bank has been given complete authority to develop and carry out a monetary policy under Article 44 of paragraph 5 of the following Provisions.

The RastraBank’s Economic Research Division has requested comments through email at monetarypolicy@nrb.org.np.

The monetary policy for the fiscal year 2078–2079 BS was already made public by NRB on Shrawan 29, 2078. Usually, monetary policy is announced one month after the budget is published. On Jestha 15, the federal parliament accepted the presentation of the budget for the fiscal year 2079–80 BS.

In relation to short-term loan interest rates, money supply, inflation, currency stability, and promoting the country’s currency confidence, the monetary policy aims to be under check.

The central bank of each nation creates its own monetary policy. The level of the money supply in the economy and the areas where it should flow or be used are determined by monetary policy.

Source: Nepal Television