KARACHI – The State Bank of Pakistan (SBP) is due to announce its updated monetary policy on Monday (today).
The latest reports suggested that the Monetary Policy Committee is likely to reduce the policy rate by 2 to 3 percent.
The rate, at this moment, stands at 15 percent which reflected a cumulative decrease of 7 percent since June.
Besides it, the country’s current account recorded a surplus of $349 million in October and marked the third consecutive month in surplus after similar trends in August and September.
The central bank also highlighted that remittances in November exceeded $3.9 billion.
Meanwhile, the country’s inflation rate dropped to the lowest point of last six and half years due to efforts under Special Investment Facilitation Council (SIFC).
In the first five months of current financial year, the average inflation receded from 28.62 percent to 7.88 percent reaching its lowest point of 4.9 percent last month.
On an annual basis, the inflation rate in urban areas has declined to 5.2 percent.
A sustained decrease in inflation would help ease pressure on consumers with lower food and transport costs.
