State Bank to announce new monetary policy tomorrow

The State Bank of Pakistan (SBP) is set to announce its new monetary policy tomorrow (Monday), according to official sources.

The Monetary Policy Committee (MPC) will meet under the chairmanship of SBP Governor Jameel Ahmed to assess the national and global economic landscape before making a decision on the policy rate. 

The committee will review key economic data, including the current global situation. After the review, a monetary policy statement will be issued through a press release. According to Topline Research's survey, 92 percent experts believe that the interest rate will remain at 10.50 percent. 

While some experts said interest rate is expected to increase by 25 to 50 basis points. In the survey, two percent opine that the interest rate is expected to increase by 50 to 100 basis points. In the survey, no one expected a decrease in interest rates, the report. The main reason is the rapid increase in oil prices. 

Reporter Ashraf Khan