A media statement of Bangladesh Bank said on Tuesday: “The average interest rate was 12.23 percent in February. It dropped to 11.93 percent at the end of March.”
The watchdog said the interest rate spread came under 5 percent because of its close monitoring.
“At the end of March, the spread is at 4.87 percentage points against 5.04 percentage points in February,” it added.
The statement said Bangladesh Bank’s efforts were on to take the rate near 4 percent.
Industrialists and businessmen have long been demanding cutting down bank rates to single digit.