Bangladesh Bank Governor Ahsan H Mansur on Thursday said that the country’s inflation rate has dropped significantly—from 14.5 percent to 8.5 percent—over the past nine months.
The Governor made the remarks while speaking as the chief guest at the opening ceremony of the Banker SME Women Entrepreneurs' Gathering, Product Exhibition and Fair, held at the Bangla Academy premises in the capital.
He expressed optimism that inflation could fall further by 4 to 5 percentage points if the government maintains consistent efforts and stable policies.
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The SME and Special Programmes Department of Bangladesh Bank organised the event.
According to the latest estimates from the Bangladesh Bureau of Statistics (BBS), overall inflation stood at 9.17 percent in April, down from 9.35 percent in March. Both food and non-food inflation declined last month. However, the average annual inflation remains above 10 percent.
Bangladesh Bank Deputy Governor Nurun Nahar, Executive Director Md Khasru Parvez, City Bank MD and CEO Masrur Arefin, and Naushad Mostafa, Director of the SME and Special Programs Department, also spoke at the event.
“If we keep printing money and expect inflation to drop, that won’t work. We need to adopt a strict stance. Inflation will take time to ease, but it is on the right track and will continue to decline gradually.” Governor Mansur said.
Referring to the current figures, he said, “Food inflation was at 14.5 percent, which has now come down to 8.5 percent. Non-food inflation, which was over 12.5 percent, is now slightly above 9 percent.”
“I am hopeful that it will fall further. If we maintain policy stability and put in the effort, reducing inflation to 4 to 5 percent is achievable—and that would be a satisfactory outcome for all,” he added.
Addressing gender disparities in financial access, Dr Mansur said women are still not receiving their rightful share of banking services.
“Women are getting only 6 percent of total disbursed loans in the banking sector. This is far from realistic. There are many obstacles for women in accessing loans. We must find ways to overcome these and move women forward. Financial awareness among women also needs to improve,” he said.
The Governor went on to say, “We are committed to supporting women entrepreneurs, but not merely by expanding central bank funds, as that would require creating new money. Instead, commercial banks must lend from their own resources, recognising women's rights in financial inclusion.”
The ongoing four-day fair, organised by Bangladesh Bank to boost the participation of women entrepreneurs, will run until May 11. A total of 68 women entrepreneurs from various districts are showcasing their products at the event.
On the final day, six women entrepreneurs will be honoured for their achievements.