In a shift from tradition, Bangladesh Bank has decided to publish its monetary policy statement (MPS) online to avoid potential boycotts by economic reporters.

Traditionally, the central bank has held press conferences where mainstream media reporters and senior journalists gather to discuss the MPS. During these events, the Bangladesh Bank governor and the chief economist explain various policy issues and respond to challenging questions about monetary policy and the banking sector’s performance.

However, breaking with this tradition, Bangladesh Bank has now decided to release the MPS for the July-December period of FY 2024-25 through an online update.

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Saiful Islam, the acting spokesperson and Executive Director of Bangladesh Bank, confirmed to reporters that this is the official decision of the central bank. The MPS will be updated online at 3:00 pm on July 18, instead of a press conference, he said.

Refayet Ullah Mirdha, President of the Economic Reporters’ Forum (ERF), commented on this development, noting that the central bank had previously restricted journalists’ access to cover the MPS unveiling press conference.

“We do not support a system where journalists can only enter Bangladesh Bank after officials permit them and schedule a time to talk. The ERF rejected this arrangement and is firm on demanding hassle-free access as before,” Mirdha said.

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He emphasized that unless the central bank meets the journalists’ access demands, the ERF will continue to boycott Bangladesh Bank events.