Dhaka, April 13 -- The Bangladesh Bank (BB) says it will launch two daily "reference rates" starting Wednesday to provide a clear indicator of market-based interest rates within the country's financial sector.

The move, announced at a press conference on Monday, aims to offer a "price indicator" for bonds, floating-rate products, and various financial contracts.

The central bank will publish two distinct rates.

The Bangladesh Overnight Financing Rate (BOFR) is a risk-free rate based on the weighted average of the previous day's interbank repo (secured) transactions, where loans are backed by 100 percent collateral.

Initially, it will cover daily and one-week tenures.

The Dhaka Overnight Money Market Rate (DOMMR) will reflect unsecure...