Bangladesh Bank Governor Dr Ahsan H Mansur on Tuesday announced that the central bank is targeting a 5% inflation rate—well below the government’s official goal of 6.5%.

“If we can achieve this, we will consider ourselves successful,” he said while speaking at the launch event of Google Pay in Bangladesh, held at a hotel in Dhaka.

The event was attended by US Embassy Chargé d’Affaires Tracy N. Jacobson and City Bank Vice Chairman Hossain Khaled, alongside executives from Google, Mastercard, and Visa.

Dr Mansur reaffirmed the central bank’s commitment to digital transformation, stating, “We are striving to enter a cashless world, and it is already becoming possible.”

He also emphasised the importance of attracting foreign businesses, noting, “When foreigners complete work in Bangladesh, the country ultimately benefits.”

Addressing broader financial reforms, the Governor said initiatives are underway to integrate school-aged children into the formal banking system and improve banking sector oversight.

“Risk-based audits have been completed for 20 banks, and seven more will be finalised by the end of July. The banking sector will not be allowed to return to its previous state.”

On exchange rate policy, Dr Mansur stated, “The price of our country’s dollar will not be determined from Dubai. That is why the dollar has been released into the market.”

City Bank CEO Masrur Arefin hailed the launch of Google Wallet as a step toward building a smart, secure, and globally aligned digital payment ecosystem in Bangladesh.