The State Bank of Pakistan (SBP) is scheduled to announce its latest monetary policy later today (Monday), with market expectations firmly pointing towards an unchanged policy rate.
The central bank has maintained the benchmark interest rate at 11 per cent for the past four consecutive policy decisions. Economic analysts expect the SBP to maintain this stance, citing easing inflationary pressures and the need for stability amid lingering economic challenges.
SBP Governor Jameel Ahmad will chair the Monetary Policy Committee meeting. During the session, the committee will review domestic and global economic conditions, inflation trends, external balances and key growth indicators before finalising its decision.
Read: SBP Expected to Hold Interest Rate at 11% Amid Inflation Concerns, IMF Warning
According to SBP data, headline inflation stood at 6.1 per cent in November 2025, reflecting a gradual moderation compared to earlier months. Meanwhile, Pakistan recorded a current account deficit of $733 million during the July–October period of the current fiscal year.
In its October policy statement, the central bank justified maintaining the policy rate at 11 per cent, citing prevailing inflation and the economic impact of recent floods. The SBP stressed the need to balance price stability with support for economic recovery.
With inflation showing signs of stabilisation and external pressures remaining manageable, economists expect the central bank to retain a cautious approach, keeping the policy rate unchanged while closely monitoring evolving economic risks.