Dhaka, Jan. 30 -- Bangladesh Bank (BB) is set to unveil its new monetary policy for the next six months in February, foregoing an increase in the policy rate amid concerns over the rising cost of production and sluggish private sector credit growth, officials said.

They said the central bank's monetary policy advisory board has recommended maintaining the current policy interest rate, citing the adverse effects of previous rate hikes on private credit flow.

The board has suggested that private sector credit growth be maintained within a range of 8.5 to 10 per cent.

A senior official at the central bank's monetary policy department noted that the central bank had raised the policy interest rate three times under the interim government, ...