State Bank of Pakistan announces new monetary policy

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State Bank of Pakistan announces new monetary policy

The State Bank of Pakistan (SBP) is scheduled to announce its Monetary Policy for the next two months today.

Governor SBP Dr Reza Baqir, will chair the Monetary Policy Committee (MPC) meeting at the SBP head office Karachi for a decision on key policy rate. The previously scheduled meeting of the committee was due in July, however, the meeting was postponed as the SBP was of the view that it had already taken a number of measures to support the economy.

It is pertinent to mentions that in the last emergency meeting held on June 25, 2020, the MPC decided to reduce the policy rate by 100 bps to 7 percent to as it seeks to address the risks to domestic economic growth.

However, economists are expecting that the interest rate is likely to remain unchanged at 7 percent for the next two months.