KARACHI – State Bank of Pakistan’s Monetary Policy Committee is set to meettoday on Thursday to announce its monetary policy, with people familiarwith the development predicting a hike in the key policy rate.
Financial experts and brokerage firms predicted a rate hike as high as 200basis points in the key policy rate in the wake of inflationary pressurewith the risk of 12-month real interest rates (RIR) remaining in negativeterritory for an extended period.
Pakistan’s interest rate stands at 22pc, the highest in the history of acash-strapped country and now it could be increased by up to 23pc.
Lately, the central bank announced a Monetary Policy Committee meeting onTuesday and added that the rate would be announced via a press release.
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Last month, the State Bank turned down the report of the special meetingand said that the deliberations would take place as per routine inSeptember.
