Keeping interest rates artificially low is a recipe for disaster. We have been here before -- not even too long ago -- and we know how this story ends. It won't be pleasant for anyone, least of all the newly-elected government.
An independent central bank could have prevented bank fraud and inflation. There is no alternative unless we want to return to the bad old days of high inflation and a plummeting Taka.
A country aspiring to become a trillion dollar economy cannot afford to operate with manual, subjective, or personality-driven oversight. It needs strong institutions delivering predictable outcomes.
Without urgent steps to make Bangladesh Bank truly autonomous and accountable, meaningful economic reform will remain incomplete.
