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Reading: State Bank of Pakistan to Announce Monetary Policy Rate Today
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PhotoNews Pakistan > Business > State Bank of Pakistan to Announce Monetary Policy Rate Today
Business

State Bank of Pakistan to Announce Monetary Policy Rate Today

Web Desk
By Web Desk Published June 12, 2023 1 Min Read
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The State Bank of Pakistan (SBP) is set to announce its monetary policy rate today.

In a recently released statement, the central bank declared a convening of the Monetary Policy Committee (MPC) on June 12. This meeting aims to review the country’s overall financial health, economic indicators, and the performance of various internal and external sectors. It will ultimately lead to a decision about the monetary policy. The Monetary Policy Statement will be issued the same day following the MPC meeting.

In the last meeting on April 4, 2023, the MPC decided to elevate the policy rate by 100 basis points to 21 percent. This move was justified as a crucial step towards anchoring inflation expectations around the medium-term target, which is key for price stability.

The policy rate announcement comes after the federal government presents the fiscal year 2023-24 budget.

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