Dhaka, Oct. 22 -- Independent operations of Bangladesh Bank (BB) can heal many of the macroeconomic ills severely hurting the economy, experts said Tuesday to underscore the urgency of freeing the central bank from bureaucratic controls.

In absence of the central bank's independence, they said, the banking regulator is often used as a political weapon on various occasions to execute political agenda.

Mentioning some recent controversial policy interventions, they said the regulator under the prescription of the political government in the last several years took some policies like lending-rate cap, controlling exchange rate and continuous support to meet fiscal deficit through injecting high-powered money, which intensifies the inflatio...