Central Bank of Myanmar holds monetary policy seminar

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The Central Bank of Myanmar held the Monetary Policy Seminar yesterday afternoon in Nay Pyi Taw.
The seminar was attended by CBM Governor U Than Nyein, the Deputy Governors, the Directors-General and officials.
At the seminar, the Governor said the monetary policy plays an essential role in a country’s economic development. The central banks are implementing the monetary policy tools appropriate to their macroeconomic situation in implementing monetary policy.
Myanmar is implementing the monetary policy under Article 40 (a) of Chapter (6) of the Central Bank of Myanmar Law (2013). It is the monetary policy of the Central Bank of Myanmar to maintain domestic price stability.
He explained that the Central Bank of Myanmar is formulating a monetary policy framework aimed at ensuring a specific amount of money that can be achieved in order to obtain the country’s economic growth target at a reasonable inflation rate. The amount of money is being controlled to accomplish that goal.
He also added that the foreign currency exchange market is being regulated as needed by the Central Bank of Myanmar in order to facilitate foreign currency flow and prevent high exchange rate fluctuations. The Central Bank of Myanmar and the Ministry of Planning and Finance are working together to set the financial policies and monetary policies.
The seminar discussed the facts needed to adapt to a Monetary Policy Framework with Inflation Targeting. – MNA

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