Premium Essay

Monetory Policy

In:

Submitted By sami22
Words 1030
Pages 5
Bangladesh Bank announced its monetary policy statement (MPS) for the second half of the current fiscal year (January-June 2012) on January 26. Explicitly or implicitly, the objectives that the MPS seeks to accomplish are:
* Curbing inflation to single digit level,
* Limiting depletion of foreign exchange reserves and establishing external sector equilibrium, and
* Supporting GDP growth of 6.5 - 7.0% in the current fiscal year (FY)
The instrument to achieve these objectives is the containment of broad money growth; primarily by reducing the growth of credit components of monetary aggregates. This article seeks to explore the efficacy of the instrument in realising the avowed objectives.
At the outset, I should mention that in earlier article (DS, February 13, 2011) I had raised questions about the effectiveness of monetary policy in fulfilling the targets relating to monetary aggregates by comparing the targets for June 2010 with the actual outturns. The problem of wide divergence persists.
Curbing inflation
Given the point-to-point rates of inflation in each month during July-December 2011 period, if the annual average inflation is to be brought down to 9%, point-to-point inflation has to come down to an average of 6.7% during January to June 2012. This is obviously a far cry from the actual average of 11.3% during July-December 2011 period.
MPS objective of reducing inflation is predicated on two assumptions: (i) it would be possible to achieve target credit growth and (ii) reduced credit growth would have a benign impact on inflation. The first of these assumptions is open to serious questions. The recent increases in credit growth have been contributed by a huge jump in credit to the public sector reaching a staggering level of 62% in December 2011; private sector credit growth has significantly decelerated.
Bangladesh Bank correctly identifies the

Similar Documents

Premium Essay

Ethics

...Objectives of the report 3 III. CSR Model 3 a. the selected Model: 3 b. Reasoning: 4 c. the model: 5 IV. Justification 5 a) Justification by the product life cycle and Carroll's CSR model : 5 b) Justification by increasing company's value: 6 c) Justification by the income statement: 6 d) Justification by forestalling legislation: 6 e) Justification through increasing loyalty of the employees: 7 f) Justification through increasing productivity: 7 V. Problems to be addressed 7 a) HRM issues to be targeted while formulating policy for managers: 7 b) HRM issues to be targeted while formulating policy for non managerial employees: 8 VI. Human Resource Management Policy 8 VII. Policy for the Managers 9 a) Policies regarding workplace environment and safety: 9 b) Policies regarding Hiring: 10 c) Policies regarding promotion: 11 d) Policies To Reduce Presenteeism: 11 VIII. Policy for the Non-Managerial Employees 12...

Words: 3791 - Pages: 16

Free Essay

A Modest Proposal

...Surprise Ending for A Modest Proposal John J Bradley IV Professor Nancy Pettigrew Humanities 112: World Cultures II November 5th, 2012 A Modest Proposal by Jonathan shift is a literary work of the 18th century that takes a symbolic aim at the greed of England’s renting policies and a plan to reduce the burdens, in this case children, caused by it. According to Sayre (2011) Swift composes with his tongue lodged in his cheek, quite possible, as never before. You can detect this in his work from the outrageous suggestions intended to lift the burden of children in poverty-stricken Ireland and alternatively to reap benefits from them. It is earlier stated that the proposal would be geared toward Irish families that could not afford to provide for their children, thus the slaughter of their children to cater the English would be the possible solution. The ‘Surprise Ending” in this proposal would be the revelation of Swift’s true proposition, the consideration of the poor and rebuttal of policy makers with realistic ideals to correct this ever so abundant problem. According to Lynch (n.d.) Swift preferred living in England, although he was Irish, which causes him to begrudge the policies toward his own people. With that being said, it becomes clear that the proposal will indeed have a surprise ending when swift speaks of his American acquaintance discoursing the subject, offering refinement. Although prior Knowledge obtained from Native Salmanaazor of Formosa Island offered...

Words: 558 - Pages: 3

Free Essay

Good

...TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory JoinSearchBrowseSaved Papers Home Page » Business and Management Memo to Manager In: Business and Management Memo to Manager Memo     Date:   March 22, 2010   To:   Andre Adams, Program Coordinator of the TerpZone *   From: * Adedoyin Ogunbajo, Tournament Coordinator, the TerpZone Subject: Proposal to implement a sign-up fee for all video game tournaments. Purpose   The purpose of this proposal is to request your approval to evaluate the current video game tournament sign-up process and ultimately institute an entrance fee for all tournaments starting next semester. Summary   When the TerpZone started running the video game tournament series, I personally did not know what to expect, as I was in charge of coming up with a schedule of games, implementing the schedule into the TerpZone calendar, coming up with various ideas to market the various tounrmanents, and actually hosting and running the tournaments. But as the results have shown, the TerpZone video game tournament series has been a huge success, and the attendance numbers have steadily increased as more students become aware of the possibilities that our tournaments offer. However, as this number has continued to increase and I have continued to implement different new strategies and additions to the tournaments, there still lies the problem of what measure of compensation the students...

Words: 422 - Pages: 2

Free Essay

Final Essay Assignment

...analyst can fall into. They mention that there are three major categories: 1) Cultural and personal bias; 2) Organizational bias; & 3) Cognitive heuristics bias. Such biases can taint the analysts opinions based on their type of biases. (George & Bruce. 2008, 127-130) Cultural and personal bias may allow the perception of the intelligence to be tainted by personal beliefs and pre-conceptions that the analyst has developed over his lifetime. This type of bias also may be influenced by personal experiences, morals, customs, habits, and social environments. Organizational bias is “generally associated with the limitations and weaknesses of large bureaucratic organizations”. This type of bias is the result of actual or perceived goals, policies, and traditions of an organization. Bruce also says that the differences are even more extreme when “classified information” is involved. Cognitive heuristics bias is the inability to properly perceive or understand the world around them. This type of bias makes the analysts vulnerable to optical illusions, magician’s tricks, political and military deception just to name a few. This bias may cause the analyst to believe that there is more going on than was actually is happening or as Bruce says “too much from too...

Words: 2232 - Pages: 9

Premium Essay

Best Ever

...Salix Pharmaceuticals Security Policy Introduction The Salix Pharmaceuticals Security Policy Template is for the use of creating a strong security policy. Each sub policy contains a title with a description and a brief summary of what the certain section will contain. The purpose of the security policies is to ensure that Salix Pharmaceuticals is safe and under strong commands. The Salix Pharmaceutical Security Policy should be reviewed when new materials and changes are to be preceded amongst this company. Scope Salix Pharmaceuticals security policy will keep the company running for years if followed by the procedures. Following the sub policies will lead to a successful company that will be ran smooth and processed like no other company. Antivirus, encryption, passwords, and backups will protect this company like no other before. Purpose Salix purpose for the security template is to have the company, employees, managers, assistant manager, and volunteer’s, and temporary follow all these policies to make the company operate under a easy and fast pace. By making this policy the company should be protected from several things and kept up to date on every policy. Employees should obey this policy and read over every so often in case changes and updates are needed to be added. Acceptable Use Workers must report any signs of violation and a misunderstanding of the policies. Workers are not allowed to access any information they do not have the authority to look...

Words: 1087 - Pages: 5

Free Essay

Capitation Management

...THE UNIVERSITY OF DODOMA SCHOOL OF SOCIAL SCIENCES DEPARTMENT OF BUSINESS ADMINISTRATION MBA-EXECUTIVE PROGRAMME 2009/2010 RESEARCH PROPOSAL By KIBIKI YUSTIN, L.M TITLE: MANAGEMENT OF CAPITATION GRANTS IN PRIMARY SCHOOLS OF TANZANIA: A CASE OF KIGOMA DISTRICT COUNCIL PROPOSED SUPERVISOR: DR MBOGORO DEPARTMENT OF ECONOMICS –UDOM 1. INTRODUCTION 1.1 Background to the Study Problem Sound Economic Governance is essential for the achievement of the desired reduction in poverty levels and improvements in economic growth in Tanzania. Good Public Financial Management (PFM) is important for efficient, effective and equitable utilization of scarce national resources (REF). Whilst the extent to which policy makers are held accountable to their constituents is an excellent indicator of good governance. Accountability and transparency go hand in hand in developing open and participatory decision-making processes. In 2005, the government of Tanzania reviewed the financial management practices and processes at the central government level. In 2006, the focus has shifted to local government, which now accounts for an increasing proportion of expenditures and is primarily responsible for service delivery in sectors such as primary education and primary health (URT, 2004). This kind of study is therefore wanting to provide a snapshot of how the resource allocation, resource management and control, resource utilization and accountability processes take place...

Words: 14395 - Pages: 58

Premium Essay

Locating Topics of Interest

...NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Learner: Terry L Green THIS FORM MUST BE COMPLETELY FILLED IN Please Follow These Procedures: If requested by your mentor, use an assignment cover sheet as the first page of the word processor file. The assignment header should include the Learner’s last name, first initial, course code, dash, and assignment number (DoeJXXX0000-1) justified to the left and the page number justified to the right. Keep a Photocopy or Electronic Copy of Your Assignments: You may need to re-submit assignments if your mentor has indicated that you may or must do so. Academic Integrity: All work submitted in each course must be the Learner’s own. This includes all assignments, exams, term papers, and other projects required by the faculty mentor. The known submission of another person’s work represented as that of the Learner’s without properly citing the source of the work will be considered plagiarism and will result in an unsatisfactory grade for the work submitted or for the entire course, and may result in academic dismissal. | | BTM8102-8 | Kris Iyer, PhD | | | Business Research Methodology | GreenTBTM8102-2 | | | <Add Learner comments here> ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Faculty Use Only ------------------------------------------------- <Faculty comments here> ...

Words: 2699 - Pages: 11

Premium Essay

The Policy Process

...THE POLICY PROCESS 1 The Policy Process HCS/455 December 2, 2011 The Policy Process 2 The Health care industry has many policies, rules and regulations that have to be followed in order to have a successful company in today’s world. The Health care industry has many policies that keep companies in compliance with all the rules and regulations in order to protect the consumers, patients and employees. In every hospital, doctor’s offices, therapy clinics, etc, there will always be certain protocol of running a successful and thriving business. A certain point in time where these policies were made, there was a process to developing a policy for a particular business. All companies, corporation, or business will have policies set in place. This holds true for the foundation for AIDS/HIV. While putting together certain regulation for research groups, this foundation also has to follow each step in the policy process. Coming up with that policy was a process and throughout this paper we will discuss the policy process and what it takes to ensure the write policy has been made to protect the company, consumers and all of its employees. The policy process has certain steps that have to be taken before having a successful outcome. These important steps are as follows: The formulation stage, the legislative stage and the implementation stage. Throughout this paper we will discuss...

Words: 1513 - Pages: 7

Premium Essay

Bus303 Business Communication

...Touro University International BUS303/MOD1/Case Assignment Dr. Gregory Herbert Create an email (about 450 words) to all your employees to announce an email policy you have just created. You are not persuading: you are announcing. However, you must be tactful and professional. Remember: some of those folks have been around along time and some are beginning their very first jobs. This section of the assignment should include references, properly cited, to articles on the CD. From: William Layne To: Army Bank All 14 October 2008 Subject: Email Policy effective immediately All: Implement the following practices immediately for all internal emails: Subject line will contain the point of the email. You are busy people in a high paced environment. You want to be able to gage the importance of the hundreds of emails you receive in order to prioritize them for maximum efficiency. Email will not be used to begin new projects and collaborations. Face to face meetings will be use to begin all new projects and collaborations. Teams achieve cohesion and synergy by feeding from each other’s energy. You are among the finest work forces around and achieve greater results from actual human interaction with your team mates. Manager or Associate is the title to be used when referring to employees in email traffic. We are an equal opportunity bank and we only see one color, the color of money. Identifying our team members by gender or...

Words: 693 - Pages: 3

Free Essay

Sample Proposal in Academic Setting

...June 27, 2012 Ms. Shirin Eugenio, Professor Members of the Operation’s Committee School of Communication University of Asia and the Pacific Pearl Drive, Ortigas Center Pasig City, Philippines 1600 Dear Sir/Madam: Good Day! I am Donica Jane T. Villar, a sophomore student taking Integrated Marketing Communications (IMC) in University of Asia and the Pacific. I am currently enrolled in Understanding Media and its Content (COM20) and Business Communication (COM21) under Ms. Veronica Isla and Ms. Shirin Eugenio, respectively. Both subjects have a class of fifty students. This kind of situation may most likely affect a student’s learning. With a large number of students in a class, most of the students cannot concentrate because some might be making unnecessary noise and movements. The aforementioned scenarios will result to the destruction of a class. I am writing to propose unique, effective, yet fair ways to promote discipline and proper classroom behavior and the possible actions that can be taken to ensure unruly behavior is minimized in a large class. I came up with operative solutions and attainable actions to the aforementioned situations. THE PROBLEM In every educational institution, discipline is very important. Every class should have a proper atmosphere to attain knowledge and to enable the students focus on their schooling. Discipline is essential to an academic growth and class’s harmony and success. Without discipline, especially in a Communication...

Words: 741 - Pages: 3

Free Essay

Transport

...Agenda 21 during its nineteenth Special Session in 1997, the General Assembly noted that, over the next twenty years, transportation is expected to be the major driving force behind a growing world demand for energy. It is the largest end-use of energy in developed countries and the fastest growing one in most developing countries. Furthermore, adequate, efficient, and effective transport systems are important for access to markets, employment, education and basic services critical to poverty alleviation. Current patterns of transportation development are not sustainable and may compound both environmental and health problems. There is, therefore, a need for urgent action, ranging, inter alia, from the promotion of integrated transport policies and plans, the accelerated phase-out of leaded gasoline, the promotion of voluntary guidelines and the development of partnerships at the national level for strengthening transport infrastructure, promoting and supporting the use of non-motorised transport and developing innovative mass transit schemes. Within the framework of the Commission’s multi-year programme of work, transport was discussed by the Commission at its ninth session in 2001. Countries agreed that international co-operation is required in order to ensure transport systems support sustainable development. Countries stressed the importance of efficient and affordable transport systems for poverty alleviation and the need to mitigate adverse externalities to health and...

Words: 352 - Pages: 2

Free Essay

Con Relationships

...Consensual Relationship Agreements or CRA; a CRA is a written contract in which romantically involved partners acknowledge workplace policies regarding romance. The CRA is confirmation of their relationship being voluntary and consensual; ensuring that the statutes of the relationship does not affect the dynamics of the workplace ethical infrastructure. Both parties agree to abide by the employers antidiscrimination, anti-harassment, and workplace conduct policies. Many employers and employees find that CRAs can be both beneficial and detrimental in the workplace; affecting personal relationships, workplace infrastructure, and productivity. There are several benefits that CRAs provide in today’s workplace not all companies have policies in place but they are beneficial to productivity. Consensual Relationship Agreements create boundaries for workplace relationships and legally binds employees to behave in a professional manner. A majority of companies do not have any policy in place. The dynamics of the workplace was jeopardized because several people dated romantically. This caused a loss of productivity because there was nothing to ensure that favoritism didn’t occur, or that employees maintained professionalism when dating in the business environment, and to procure documentation to protect employees in cases of resentment. Most companies now have policies against supervisors and managers engaging in relationships with subordinates; the CRA will acknowledge this union and take the...

Words: 1430 - Pages: 6

Premium Essay

Memo Sports Solutions

...better allocated to more productive tasks at their individual stores. Attendance--Many of our staff members cannot make the meetings due to legitimate reasons, but these individuals are also missing the opportunity to receive the relevant updates discussed during that time. Comprehension--Team members who do attend the meetings often have follow-up questions about the concepts being focused on and there is not enough time to address everyone’s inquiries. These challenges can be overcome with a new system for training and updating our staff. I have come up with an online platform called “Essential Learning”. Instead of the weekly staff meeting, employees log on to the website once a week and review posts about new products and store policies. To ensure that all employees understand and retain the information, the weekly posts are followed by a short true/false quiz. This new system will benefit Sports Solutions staff in the following ways: Flexibility--Employees would be able to access the online platform at their convenience during the week, providing those with hectic schedules the option to complete the training when they have time. Immediate Feedback--After taking the quiz, staff members...

Words: 471 - Pages: 2

Free Essay

Maha's Assay

...There are different Instructional System Design models used for the purpose of training that focus on the learning rather than on the teaching... These models as ADDIE guide the process of learning activity and provide the tools that are required for learning process. Instructional Systems Design (ISD) model includes; analysis, design, develop, implement, and evaluations. ISD considered as a formal type used to train health practitioners and others. At this training program for HER implementation, the goal should be determined by assessments and analyses of learners, and then the goal s will be established based on the assessments results. During the training session, different evaluation methods should be established to measure the quality of the training session and the extent of goal achievements. We will train health care practitioners and staff on the new EHR system. We will start with different steps before we begin the training session. It is important to identify all the requirements for training, our goals, training contents, designs the training methods, implementation, and the output of the program. ADDIE Model Phases: Analysis-Assessment-Needs: When-Where-Who. Analyze and assess the learners and the organization’s needs to identify the training session goals that required for this session. Also, at this phase, we determine who and when the training session will occur. Design: To design the training session that meets the learners and trainer learning...

Words: 394 - Pages: 2

Premium Essay

Pre-Marital Sex: Policy Implementation

...Implementation Process Pre-marital sex has been a pressing public policy issue for decades. In the United States, numerous programs have been implemented to deal with the effects that pre-marital sex has had on the Nation’s economy and various other areas. In an essay prior to this paper, we looked at pre-marital sex from a public policy standpoint by judging the issue from five contexts: political, economic, social, historical, and ethical. In this essay, we will continue to examine pre-marital sex as a public policy issue, but we will be focusing on the policy implementation process; first by looking at what may cause it to be a problem, then by looking at the steps that the U.S. Government can take to find alternatives and implement policies, after we can look at policies that the U.S. Government has taken to fix the problem, and finally we will examine the most important criteria that is necessary to evaluate a public policy. Before I begin, I feel that it is important to draw attention to a portion of my first essay. Since we are looking at the implementation of policies, we must first come to a conclusion as to what the issue we are looking at affects most. Out of the five contexts examined in the first essay, I believe that the economic problems caused by pre-marital sex is the primary focus of the U.S Government; therefore, when looking for the root cause of the problem, we will be looking at it from the eyes of U.S policy makers and what they might see as pressing issues that...

Words: 2026 - Pages: 9