KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will meet on Monday, July 29 to decide about the new Monetary Policy.
The MPC will review the overall economic and financial situation, major indicators, data of different sectors, and major developments that have taken place since the announcement of the previous monetary policy.
SBP Governor Mr Jameel Ahmed will announce the MPC decision in a press release on the same day after the MPC meeting.
n the last monetary policy announcement, the State Bank of Pakistan cut the interest rate by 150 basis points (bps) to 20.5 per cent.
In a statement, the SBP said the central bank’s Monetary Policy Committee (MPC) had reviewed the current economic developments.
The committee noted that “underlying inflationary pressures are also subsiding amidst tight monetary policy stance, supported by fiscal consolidation”.
At the same time, the MPC highlighted “some upside risks to the near-term inflation outlook associated with the upcoming budgetary measures and uncertainty regarding future energy price adjustments”.
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