Dhaka, March 31 -- Public debate often reveals insights that formal policy discussions overlook. Occasionally a thoughtful reader's question captures the essence of a national economic problem more sharply than lengthy technical policy reports. Such was the case when I received the following email in response to my recent article, "Central Bank and Monetary Policy." [FE, P-4 March 2, 2026] The message raises a question that goes directly to the heart of Bangladesh's current inflation dilemma. I reproduce the email below exactly as it was written:

"This email is to express my appreciation for your article on 'Central Bank and Monetary Policy'. I completely agree with you that an effective monetary policy will require a thorough understand...