The State Bank of Pakistan (SBP) will declare the monetary policy on Monday, November 24, 2024, as stated by the central bank on Thursday.
The State Bank of Pakistan (SBP) announced in a press statement that the Monetary Policy Committee (MPC) will convene on Monday, November 04, 2024, to determine the Monetary Policy. “Subsequently, the SBP will disseminate the Monetary Policy Statement via a press release on the same day,” it stated.
The MPC will assess the whole economic and financial landscape, key indicators, sectoral statistics, and significant changes occurring since the prior monetary policy pronouncement.
On September 12, the SBP implemented a significant reduction of 200 basis points in its policy rate. The central bank reduced the interest rate by two percent to 17.5% in the policy released two months ago.
Analysts anticipated that the committee would maintain monetary easing between 150-200 basis points due to a subdued inflation outlook.
The state bank said that inflation decreased to a single digit in August, registering at 9.64 percent. “Inflation is consistently declining.”
The central bank stated that the growth for the current year is expected to be 3.5 percent.
