KARACHI – The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will meet on October 30 (Monday) to decide the new monetary policy.
The SBP will issue the monetary policy statement through a press release on the same day after the meeting.
The Monetary Policy Committee of #SBP will meet on Monday, October 30, 2023 to decide about the Monetary Policy. SBP will issue the Monetary Policy Statement through a press release on same day. pic.twitter.com/Cmp8KRrEgn
— SBP (@StateBank_Pak) October 28, 2023
The recent developments suggest that the SBP will either slash the interest rate or keep it unchanged till the next MPC meeting scheduled to be held on December 12, 2023.
The strengthening of local currency against the dollar and a slight drop in inflation are encouraging signs for the economy.
As per the experts, there is no reason for enhancing the interest rate after a decrease in inflation and appreciation of the rupee against foreign currencies.
“The SBP will either slightly decrease the interest rate or keep it unchanged till the next MPC meeting”, experts say.
The mark-up rate in Pakistan is currently at 22 per cent which is already high as compared to other countries in the region.
