Price rises push inflation to 8-yr high at 7.42pc
Price rises pushed up inflation to a record-high 7.42 per cent in Bangladesh by official count, overshooting government estimation amid market volatility globally and locally. Economists suggest contingency planning for possible crisis management as the rate of point-to-point inflation, as of May, hit the highest level in eight years as revealed in the official statistics released Sunday. Eight years ago in May 2014, the month-on-month inflation was recorded at a new peak of 7.48 per cent, the Bangladesh Bureau of Statistics (BBS) data showed. A record-high consumer price index (CPI), recorded at 8.30 per cent last month, built up massive inflationary pressure on food items, according to the BBS data. However, the rate of inflation on account of food declined a bit to 6.08 per cent in the past month, the national statistical body showed. Meanwhile, the rate of the point-to-point inflation in the previous month of April was 6.29 per cent. Besides, the CPI pressure in May last year (2021) was comparatively cool as it was recorded at 5.26 per cent.
City Bank perpetual bond makes debut today
Trading of The City Bank Perpetual Bond will commence on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) today (Monday) under the settlement category ‘N’. Perpetual bonds are fixed income securities with no maturity date and they are often considered a type of equity rather than debt. These types of bonds are not redeemable; instead provide a never-ending stream of interest payments. Currently, six perpetual bonds are listed with the stock market and the City Bank Perpetual Bond is the seventh listed perpetual bond. The stock market regulator — Bangladesh Securities and Exchange Commission (BSEC)– on June 23, 2020 accorded its consent to The City Bank for raising additional Tier-l capital through issuance of perpetual bond worth Tk 4.0 billion.
Citizens Bank PLC entered into an agreement with DBBL
Citizens Bank PLC (CZB) has entered into an agreement with Dutch Bangla Bank Limited (DBBL) for sharing the services of Rocket, a mobile financial services platform of the latter. Mohammad Iqbal, SEVP & Head of Business, and Md Rezaul Karim, EVP & Head of Mobile Banking Division, signed the agreement on behalf of their respective organisations in presence of Mohammad Masoom, Managing Director & CEO, Citizens Bank PLC, and Md Shahadat Hossain, Deputy Managing Director, Dutch Bangla Bank Ltd.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↓ 38.29||↓ 0.13 %|
|FTSE100||$ 7,016.25||↓ 28.73||↓ 0.41 %|
|Nikkei 225||$ 25,658.12||↓ 304.88||↓ 1.17 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 109.14||↓ 0.42 ||↓ 0.38 %|
|Crude Oil (Brent)||$ 112.89||↓ 0.23||↓ 0.20 %|
|Gold Spot||$ 1,844.99||↑ 5.60||↑ 0.30 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 92.8375|
|GBP 1||BDT 113.5277|
|EUR 1||BDT 97.5111|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<