KATHMANDU: Nepal Rastra Bank has sought suggestions for preparing monetary policy of upcoming fiscal 2022/23.
As per the provision in the Nepal Rastra Bank Act 2058 BS, the bank has sought opinions and suggestions from the stakeholders concerned for the monetary policy.
Article 44 of paragraph 5 of the said Act has given full authority to the Central Bank to formulate and implement monetary policy.
The Economic Research Department of NRB has asked to provide suggestions via email [email protected].
NRB had earlier made public the monetary policy for the fiscal year 2021/22 on August 13, 2021.
Monetary policy is usually made public one month after the budget is presented. The budget for the fiscal year 2022/23 was presented in the Federal Parliament on May 29.
Monetary policy is aimed at controlling interest rates on short-term loans, money supply, controlling inflation and maintaining currency stability and building confidence in the nation’s currency.
The monetary policy of any country is formulated by the central bank of the respective country.
Monetary policy determines money supply in the economy and the areas in which more money should flow.
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