Pakistan’s State Bank To Release Monetary Policy Tomorrow
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The State Bank of Pakistan (SBP) is scheduled to unveil a new monetary policy for the upcoming two months on Monday. In an official statement, the bank announced that the Monetary Policy Committee (MPC) will assess economic indicators during their meeting and determine whether to adjust or maintain interest rates.
Currently, the State Bank’s policy rate stands at 22 percent, the highest in the past two decades, in accordance with the requirements of the International Monetary Fund, as Pakistan grapples with significant inflation.
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Despite a slight decrease in inflation, experts anticipate that interest rates will likely remain unchanged.
The State Bank’s monetary policy comprises a set of tools employed by the MPC to manage the money supply, fostering economic growth and mitigating inflation. Pakistan has raised the policy rate multiple times, primarily in response to soaring inflation.
Inflation in the crisis-affected country has remained elevated since mid-2022, with citizens contending with high prices for oil, escalating electricity costs, and increased gas tariffs.
