Bangladesh, Jan. 6 -- The agreement reached between the finance minister and the banking sector leaders to lower the lending rate to the single digit from April 01 next, if implemented, would fulfil a long-standing demand of the businesses.
The private sector credit growth has been on a declining trend in the recent years and it has now plummeted to the lowest level since 2008. Following the rate cut, more and more people are likely to be interested in borrowing from banks, which is expected to spur private investment.
But, surprisingly, reactions to the latest development involving the bank interest cut have been rather subdued. The trade bodies should have come out with statements greeting the agreement reached between the bankers and t...