The State Bank of Pakistan (SBP) on Monday chose to maintain the status quo by upholding the key policy rate at 22 per cent for the seventh policy meeting in a row.
The announcement came after a meeting of the bank’s Monetary Policy Committee (MPC).
The Committee, in a notification, said that the continuation of the current monetary policy stance, with significant positive real interest rates, was necessary “to bring inflation down to the target range of 5 – 7 per cent by September 2025”.
Last month, the committee had chosen to maintain the status quo by upholding the key policy rate at 22 per cent for the sixth policy meeting in a row.
Today’s decision also comes ahead of the country nearing its completion of a $3 billion standby arrangement (SBA) it secured from the International Monetary Fund (IMF) last year. The IMF Executive Board is expected to meet later today to decide on the final tranche of $1.1bn.
More to follow
