KARACHI: The State Bank of Pakistan (SBP) today (Tuesday) said the monetary policy will be announced on March 19 (Friday), according to a notification.
The notification, issued by the SBP’s External Relations Department, the Monetary Policy Committee of the central bank will meet on Friday in Karachi to decide about the monetary policy.
Governor SBP Dr Reza Baqir will address the media after announcing the policy rate, which has been kept unchanged since July at 7 percent.
Following the COVID-19 pandemic’s arrival in Pakistan, the monetary policy became the focal point for economic activities after the SBP drastically slashed the interest rate from mid-March 2020 till the end of the previous fiscal.
The central bank lowered the interest rate to 7 percent from 13.25 percent to pump cheaper money into the economy and help it activate its slowing growth.
