Bangladesh Bank full autonomy-too early or too late-an evaluation

Central bank autonomy is a debatable issue especially in the developing country like Bangladesh. Since it’s introduction Bangladesh Bank- the central bank of the country is working under the tight supervision and control of the Ministry of Finance. It is very common that while a central bank work under the control of such political parties it cannot work properly. Because mission, objectives and interest of these political parties can not be same as the interest of the central bank. Therefore government always tries to influence over the monetary policy of bank to gain only short-run political benefits. Whereas in the apex of the financial system, central bank should enjoy full autonomy to play roles for gaining long-term economic development through formulating and implementing appropriate monetary policy and supervising the financial institutions.