The Nepal Rastra Bank (NRB) released its mid-term review of the Monetary Policy for FY 2080/81 on Chaitra 08, 2081. While the central bank maintained a steady policy stance, it introduced several structural adjustments to enhance financial sector resilience, credit discipline, and monetary transmission. The revisions reflect a cautious approach aimed at maintaining macroeconomic stability while addressing sector-specific concerns.
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Although accounting mismatches and errors are relatively rare in Nepal, recent events in India have highlighted the potential risks. A significant case involved a currency valuation error, which led to a mismatch in derivative hedging strategies, resulting in substantial financial losses for both a bank and its investors. This incident serves as a stark reminder of how even minor miscalculations in financial management can have far-reaching consequences in today’s complex economic environment.
The monetary policy of any country evolves through time as it responds to the shifting economic conditions, goals, and challenges. When examining the recent review of the monetary policy for FY81/82, it’s useful to understand the historical context of monetary policy in that period, especially in relation to any significant changes and their broader implications.