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Nepal Rastra Bank makes second amendment to Monetary Policy Formulation Procedure, What is the new provision?

. KATHMANDU: Nepal Rastra Bank (NRB) has issued the ‘Monetary Policy Formulation Procedure-2073 (Second Amendment, 2083)’ with a view to making the monetary policy formulation and public public process more systematic, technology-friendly and time-bound.

The central bank, which has been formally announcing the monetary policy since the fiscal year 2059/60 for the development of the overall financial system by maintaining price and balance of payment stability, has revised this procedure from time to time.TAG_OPEN_div_13

According to the NRB, the NRB will present three documents: review and progress report of provisions in the monetary policy for the current fiscal year, a report with analysis of the macroeconomic situation and analysis of economic issues and a preliminary draft prepared for the monetary policy review.TAG_OPEN_div_11

The monetary policy should be made public within 15 days of the commencement of every fiscal year and quarterly and half-yearly reviews should be made public within 45 days of the end of every quarter.TAG_OPEN_div_9

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