SBP to unveil monetary policy on Monday

Karachi: The State Bank of Pakistan (SBP) will unveil monetary policy on Monday.

According details, the Monetary Policy Committee (MPC) of SBP will meet on Monday to decide the monetary policy.

In a statement issued on Friday, the central bank 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.

Governor SBP Baqir stated that 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.