Business news Pakistan

SBP to unveil monetary policy on Monday

KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will meet on Monday to decide the monetary policy, a statement in this regard said.

The central bank, in a statement issued Friday, said Govenor SBP Dr Reza Baqir is set to brief the media after the MPC meeting.

Analysts expect the central bank to keep the benchmark policy rate unchanged, according to The News.

Governor Baqir, in a recent interview, said the central bank is taking “a pause to first look at the effects of the tightening” it had done then the bank will “consider what monetary policy settings should be.”

The SBP raised the policy rate by 100 basis points to 9.75% in its last meeting on December 14, 2021, to counter inflationary pressures, address the current account deficit, and ensure that growth remains sustainable.

The central back has hiked interest rates by 275 basis points since September 2021.

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