SBP to announce new Monetary Policy today

KARACHI: The State Bank of Pakistan (SBP) will announce Monetary Policy for the next two months on Monday.

A statement said, “The monetary policy committee (MPC) of the central bank will meet today at SBP Karachi to decide about Monetary Policy, and it will issue the Monetary Policy Statement through a press release on the same day.”

The experts have expected the interest rate likely to be fixed slightly downward with most of them predicting that the central bank will opt to reduce the rate by 25 basis points.

Pakistan Bureau of Statistics (PBS) has rebased its Consumer Price Index (CPI). The change in the base year reduced CPI by 1.13 percent in August 2019. The change in the base year of the CPI by the PBS expected to set the inflation rate at 9.6 percent.

In the previous meeting on 16th July 2019, the Monetary Policy Committee had raised the policy rate by 100 basis points (bps) to 13.25 percent on the higher inflation outlook.