SBP to announce monetary policy tomorrow

KARACHI: The State Bank of Pakistan (SBP) will announce the Monetary Policy on Monday (tomorrow) after a meeting of the Monetary Policy Committee (MPC).

The schedule of monetary policy announcements as given on the central bank’s website reads that the MPC of SBP will meet on Monday, April 29 to decide about the new monetary policy.

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“Later on, SBP will issue the Monetary Policy Statement through a press release on the same day,” the statement read.

The MPC will decide the interest rate after the economic review. The business community has urged the SBP to lower the interest rate.

Earlier in March, the MPC decided to keep the policy rate unchanged at 22 percent. The MPC noted that inflation, in line with earlier expectations, has begun to decline noticeably from H2-FY24.

The Committee, however, observed that despite the sharp deceleration in February, the level of inflation remains high and its outlook is susceptible to risks amidst elevated inflation expectations.

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“This warrants a cautious approach and requires continuity of the current monetary stance to bring inflation down to the target range of 5 to 7 per cent by September 2025. – INP

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