Bangladesh Bank Governor Abdur Rouf Talukder on Saturday said it is not possible to lift the interest rate cap on bank lending (9 percent) in the current situation. He said this while speaking at a program at the Bangladesh Institute of Bank Management (BIBM) held in Mirpur in the capital. Abdur Rouf Talukder said the entire world is now facing a challenge and Bangladesh is no different. In this situation, it is not possible to raise the cap, as many economists have advised to tackle inflation, in line with most central banks around the world that are fighting inflation.  During a highly anticipated speech at the annual Jackson Hole conference in Wyoming on Friday, Jerome Powell, the chair of the US Federal Reserve, America's central bank, said they must continue to raise interest rates to stop inflation from becoming "a permanent aspect of the US economy." Read: The first Bangladeshi ship carrying jhut leaves for India "Reducing inflation is likely to require a sustained period of below-trend growth," Powell said at the meeting. Policymakers in Bangladesh however, seem to be banking on the wealth effects of growth to beat out the depreciating effect of inflation.  “If it happens (the cap is raised), the private sector will suffer. The overall supply chain will be disrupted. At the moment, there is no decision on lifting the lending cap,” the governor said. “After taking charge as the governor of the central bank, I spoke to the bank chairmen, managing directors, and chief executives. I have wanted to know the problems and possibilities of the country's banking sector from them,” he added. The BB governor hints that there is a dollar crisis and inflation problem, but both would last no longer than 2-3 months.