Key Functions

The Research Department is primarily responsible for conducting continuous research and preparing comprehensive analytical reports to support evidence-based policymaking by higher authorities. Its core objective is to provide strategic guidance for the formulation of the country’s monetary policy, taking into account key macroeconomic factors such as economic growth, balance of payments conditions, and the government’s fiscal stance, with a view to fostering economic growth and controlling inflation.

In addition, the Department is responsible for preparing key institutional publications, including the Bank’s Annual Report. It also drafts a report on Activities of Banks and Financial Institutions, which is published annually by the Ministry of Finance. It also contributes to Economic Review published by MoF with providing report on monetary, fiscal and external issues.

Moreover, Department analyze key macroeconomic indicators and produces forecasts for GDP and inflation to support forward-looking monetary policy using FPAS and the Quarterly Projection Model. It also conducts detailed inflation analysis, including component breakdowns, drivers, base effects, diffusion indices, and wage dynamics to guide timely policy decisions.

This department conducts an inflation expectations survey to assess how people anticipate future price movements, enabling it to formulate sound monetary policy and ensure price stability.

The Department also plays a pivotal role in coordinating consultations with the International Monetary Fund (IMF), World Bank, and ADB, consolidating data for missions such as Article IV mission, Article VIII mission, and Fact Finding. It facilitates technical assistance and loan review missions, and prepares economic briefings, country reports, and background notes for the Finance Minister and Bangladesh Bank leadership. Additionally, the department manages IMF safeguard assessments, documentation, follow-ups, and works with the Ministry of Finance (MoF) on voting in international financial institutions.

The Department regularly compiles a wide range of reports to monitor key economic developments. These include daily, weekly, monthly, quarterly, and half-yearly publications that track major indicators such as money supply, reserve money, domestic credit, various components of the balance of payments, government revenue and expenditure, food price movements, as well as CPI and core inflation. Alongside these regular reports, the Department also produces focused analyses, including monthly reports on agriculture and rural finance and reviews of government domestic borrowing. On a quarterly basis, it evaluates fiscal, monetary, and exchange rate policies, and prepares reports on remittance inflows, the readymade garments (RMG) sector, and inflation dynamics in Bangladesh. Selected reports are made available through the central bank’s website. In addition, the Department undertakes detailed studies and periodic research to examine emerging economic issues when necessary.

Furthermore, the Department also prepares working papers on money, credit, and exchange rates to the Coordination Council, which makes top management of Bangladesh Bank and MoF well-informed of the latest domestic and external economic developments.

The Department conducts research and publishes analytical reports on Islamic banking in Bangladesh, while also reviewing global Shariah standards and promoting coordination, joint research, and empirical studies. Recently, it has prepared policy notes, presented research at international conferences, and contributed to budget summaries on Sukuk, Zakat, and Waqf fund management.

The Department provides comprehensive analysis, recommendations, and comments on various economic matters requested by the IMF, government bodies, and other organizations. It contributes to the national budget formulation process by supplying relevant data, analytical inputs, and policy recommendations, and responds to parliamentary queries as needed.

Through the Department has been compiling the Residential Property Price Index (RPPI) since 2021 as a key measure of real estate price trends and their economic impacts with collecting data from banks and financial institutions to produce the index.

The Department coordinates Bangladesh’s participation in SAARC FINANCE facilitating collaboration among SAARC central bank Governors and Finance Secretaries. The cell serves as the regional hub, organizing meetings, seminars, capacity-building programs, and scholarship initiatives. It also facilitates research, disseminates economic insights, and coordinates with platforms like the SAARC FINANCE database, SAARC Payment Council, and SAARC Sync portal for regional knowledge exchange.

Finally, The Department conduct policy impact analysis based surveys, working papers, policy notes etc as and when required.