KARACHI – The State Bank of Pakistan (SBP) announced its bi-monthlymonetary policy on Friday and decided to maintain its policy rate at 7percent, according to a statement issued by the bank.
At its meeting on 28th May 2021, the Monetary Policy Committee (MPC)decided to maintain the policy rate at 7 percent. Since its last meeting inMarch, the MPC was encouraged by the further upward revision in the FY21growth forecast to 3.94 percent.
The MPC noted that this confirms the strength of the broad-based economicrebound underway since the start of the fiscal year, on the back oftargeted fiscal measures and aggressive monetary stimulus. This positivemomentum is expected to persist, translating into higher growth next year.
