DHAKA -- Bangladesh is raising interest rates to tackle mounting inflation as it launches new policy measures to meet conditions for unlocking more of a $4.7 billion loan from the International Monetary Fund.
On Sunday, the South Asian nation's central bank announced it will hike its key lending rate by 50 basis points to 6.5% from 6%, as it also said the country would ditch a fixed-exchange rate regime for the first time in its history -- a requirement under the IMF's loan criteria.
