Dhaka, Jan. 28 -- Planning Adviser Prof Wahiduddin Mahmud has said it is time to make a review of the tight monetary policy stance, for the same has not worked as desired.

"There is no longer much need to control inflation by reducing credit flow through monetary policy by simply increasing interest rates. Inflation will already come down somewhat," he told a seminar Wednesday.

"And the current high interest rate is mainly affecting working capital, because investment is not happening much," said the economics professor at the meet of economic reporters.

He sees not much of a problem for big businessmen in terms of working capital. "But outside that sector, interest rates have become a big expense in other domestic sectors."

The Econo...