Thursday, July 4, 2024 06:04 PM
State Bank of Pakistan to Announce Monetary Policy Decision
- MPC meeting on April 29 to determine interest rate based on economic review
- MPC's focus on stabilizing inflation towards 5 to 7 percent target range
- Market eagerly awaits outcome of MPC meeting for economic implications
Image Credits: dailytimes_pkThe State Bank of Pakistan is gearing up to announce its Monetary Policy decision following the MPC meeting. With a focus on stabilizing inflation and economic implications, the outcome will have significant effects on the country's economic landscape.
The State Bank of Pakistan (SBP) is set to announce its Monetary Policy on Monday following a meeting of the Monetary Policy Committee (MPC). The MPC will convene on Monday, April 29 to deliberate on the Monetary Policy, with the official statement to be released on the same day. The key agenda for the MPC will be determining the interest rate based on the economic review.
In March, the MPC opted to maintain the policy rate at 22 percent. The decision was influenced by the observation that while inflation had started to decrease as anticipated, it remained at elevated levels. The Committee emphasized the need for a cautious approach to steer inflation towards the target range of 5 to 7 percent by September 2025.
The business community has been advocating for a reduction in the interest rate to stimulate economic activity. However, the MPC's focus remains on stabilizing inflation and ensuring a gradual decline in line with the long-term target.
As the SBP prepares to unveil its Monetary Policy, market participants are keenly awaiting the outcome of the MPC meeting and the subsequent policy statement. The decision taken by the Committee will have significant implications for the country's economic landscape and the business environment.
