Dhaka, March 4 -- Bangladesh Bank (BB) on Wednesday postponed a crucial meeting of its Monetary Policy Committee (MPC) following the resignation of noted economist Dr. Sadiq Ahmed from the committee.

The meeting, chaired by the newly appointed Governor, Md. Mostaqur Rahman was widely expected to announce a reduction in the policy interest rate to ease lending costs for businesses.

Dr. Sadiq Ahmed, Vice Chairman of the Policy Research Institute (PRI) and a former senior official of the World Bank, reportedly submitted his resignation today. He was the only member of the seven-member MPC nominated by the central bank's board of directors.

While the central bank did not provide an official reason for the postponement, sources within the b...