KARACHI – State Bank of Pakistan is set to announce new monetary policy after a meeting of the Monetary Policy Committee (MPC) that is scheduled to be held on October 30 (Monday).
A post shared by SBP on X, former Twitter, said “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 the same day.”
Amid the ongoing situation in the country, the central bank is expected to keep key interest rate unchanged at 22 percent as inflation dropped slightly amid lowering lower fuel prices and appreciation of local currency.
Earlier this year, the central bank jacked up policy rate to curb sky-high inflation and to support the external balance.
Meanwhile, experts see no change in the benchmark rate at the upcoming policy review meeting. Some reports however predict marginal drop in policy rate.
Under the ongoing circumstances, SBP is likely to keep policy rate at 22pc until March 2024.
