Nepal Rastra Bank has set the date for announcing the monetary policy, now the policy will come within 7th Shrawan

Kathmandu: Nepal Rastra Bank has set the date for the monetary policy to be announced. The Central Bank has fixed the deadline for making the monetary policy public by first amending the monetary policy formulation procedure, 2073. According to the revised procedure, the monetary policy must be announced within one week of the start of the current financial year (within 7 days of the start of the new financial year). According to which, the monetary policy should be announced within 7th of Shrawan.

In the previous years, the monetary policy could not be made public even one month after the end of the current financial year due to the lack of time limit for monetary policy and the intervention of the changed government. In the revised procedure, it is mentioned that the department will send correspondence to request necessary opinions and suggestions for monetary policy within 15 days after the end of every quarter for quarterly and half-yearly reviews for the second week of Jestha for the formulation of the annual monetary policy.

The received suggestions will be discussed in the inter-departmental suggestion coordination committee starting from the first week of Ashadh month of each year and for quarterly and half-yearly reviews 15 days after the end of every quarter for annual monetary policy formulation as required.

After the discussion in the inter-departmental suggestion coordination committee is completed, the discussion on the draft monetary policy will be started in the management committee. After being passed by the board of directors, it is stated in the procedure that the annual monetary policy is generally published within the first week of the beginning of each financial year and within 30 days of the end of the quarterly and half-yearly reviews of each quarter.