Monetary policy to be made public this week

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Monetary policy

The monetary policy, which could not be made public due to the change of government, will be made public this year. 

Nepal Rastra Bank has made preparations to make the monetary policy public by next Friday.

NRB spokesperson Dev Kumar Dhakal said that they are preparing to make the monetary policy public within this year. He said that the delay was due to incomplete internal preparations.

The central bank has been formulating monetary policy every year to make public the policies and programs brought by the government and also to help in the implementation of the budget. NRB had also made preparations to make the policy public in the second week of July.

The new government was formed after the then KP Sharma Oli-led government brought the budget for the current fiscal year. NRB has been delaying the monetary policy saying that the government policy and budget can be amended after the formation of the new government at the end of the fiscal year.

However, Finance Minister Janardan Sharma said that NRB was an autonomous body and he could only give suggestions. After receiving indications from the finance minister that he would not intervene unnecessarily, Governor Maha Prasad Adhikari had said that the monetary policy would be made public on Sunday or Monday in the Finance Committee of the House of Representatives.

Monetary policy was not made public on Sunday. An NRB source has said that it is not likely to be made public on Monday as well.

“It is not likely to be made public on Monday and Tuesday. Now it is preparing to make it public within a year,” an NRB source said. The board of directors of NRB is not even ready to hold a meeting till Monday and Tuesday.

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