Karachi:State Bank of Pakistan (SBP) will announce the Monetary Policy on Thursday, September 12, 2024 following the meeting of the Monetary Policy Committee.
The central bank, in a statement issued here, announced that a meeting of the Monetary Policy Committee (MPC) of SBP will be held on September 12 to decide about the Monetary Policy.
The MPC will review the overall financial and fiscal situation, major economic indicators, data of different sectors and major developments taken place since the announcement of the previous monetary policy while its decisions would be conveyed by the central bank through the Monetary Policy Statement.
The Monetary Policy Committee, in its previous meeting on Monday, July 29, 2024 cut the policy rate by 100 basis points to 19.5 percent in wake of improved external account, surge in foreign exchange reserves and better than anticipated inflationary situation.
MPC in its meeting taking into account the improved external account, build-up in SBP’s Foreign Exchange reserves
, descending inflation, and other developments along with significantly positive real interest rate, viewed that there was a room to further reduce the policy rate in a calibrated manner to support economic activity, while keeping inflationary pressures in check.