The State Bank of Pakistan (SBP) is set to announce its monetary policy today (Monday), with the business community hopeful for a reduction in the key interest rate.
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The SBP’s Monetary Policy Committee (MPC) is scheduled to meet at 10:30 am under the chairmanship of Governor Jameel Ahmad to finalize its decision on the benchmark policy rate, which will remain in effect for the next two months.
Currently, the policy rate stands at 10.5 percent. In its previous meeting, the committee had lowered the rate by 50 basis points.
During the session, the MPC will review a range of economic indicators, including imports, exports, large-scale manufacturing, and trade and fiscal deficits. Other factors such as remittances, foreign exchange reserves, crop output and global oil prices will also be taken into consideration before announcing the decision.
