Exploring the dynamics of Bangladesh bank's monetary policy: A factor analysis approach

Abstract

This study examined the factors influencing the monetary policy of Bangladesh Bank using a structured questionnaire to interview 207 sample respondents from Bangladesh Bank and 19 listed private conventional commercial banks. The study analyzed and interpreted respondents' opinions using descriptive statistics and varimax rotated factor analysis. The study identified the effect level of various factors influencing the monetary policy of the Bangladesh Bank and ranked the factor variables from 1 to 24 based on the adjusted mean score. The researchers found that the most influential factors in the monetary policy of Bangladesh Bank are price risk, market operations, political-economic variables, and governance. In contrast, the most negligible significant factors are price stability and market liquidity based on the varimax rotated factor analysis. Therefore, the study found that the researcher's set of monetary policy factors has significant implications for the Bangladesh Bank's monetary policy.

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