The State Bank of Pakistan (SBP) is set to unveil the Monetary Policy tomorrow following a meeting of the Monetary Policy Committee (MPC). According to a press statement issued by the central bank, the MPC will convene today to deliberate on the Monetary Policy.
The statement further elaborated that the SBP will subsequently release the Monetary Policy Statement through a press release on the same day, providing insights into the decisions made by the MPC.
One of the key decisions expected from the MPC is regarding the interest rate, which will be determined after a thorough review of the economic landscape. Notably, the business community has been vocal in urging the SBP to consider lowering the interest rate to stimulate economic growth.
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In the previous MPC meeting held in March, the decision was made to maintain the policy rate at 22 percent. The committee acknowledged a noticeable decline in inflation, aligning with earlier projections for the second half of the fiscal year 2023-24. However, it cautioned that despite the recent deceleration, inflation levels remain elevated, posing risks to the economic outlook, especially in light of persistent inflation expectations.
As the SBP prepares to announce the Monetary Policy, all eyes are on the MPC’s decision regarding the interest rate and its potential implications for the economy moving forward.
