SBP to announce monetary policy today

Karachi: State Bank of Pakistan (SBP) will announce the monetary policy today (Thursday).

According to details, a meeting of the Monetary Policy Committee will be held under the chairmanship of Governor State Bank in which the economic situation of the country will be reviewed and a decision will be taken regarding the change in the interest rate.

According to the central bank, the monetary policy committee of bank will announce the change in interest rate after the meeting. Currently the base interest rate is 22 percent.

Economists stated that interest rates are likely to increase by one to two percent.

It is pertinent to note that State Bank had decided to increase the interest rate by 100 basis points i.e. 1% on June 26, after which the base interest rate became 22 percent.