The State Bank of Pakistan (SBP) announced that it will release its monetary policy statement on Monday, November 24, 2024.
According to a press statement from Thursday, the SBP’s Monetary Policy Committee (MPC) is scheduled to convene on November 4, 2024, to deliberate on the policy. The central bank will then state the situation in a press release on the same day.
The MPC plans to assess the overall economic and financial conditions, examine major indicators, review data from various sectors, and consider significant developments since the last policy announcement.
Previously, on September 12, the SBP implemented a substantial reduction, cutting the policy rate by 200 basis points and lowering the interest rate to 17.5% from a previous rate two months prior.
Analysts anticipate that the committee might extend monetary easing by 150-200 basis points, driven by a lower inflation forecast.
The central bank noted that inflation had decreased to a single-digit figure of 9.64 per cent in August, continuing a downward trend. Additionally, it projects that economic growth for the current year will likely stabilize at 3.5 per cent.
