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KARACHI: The State Bank of Pakistan (SBP) decided to keep the policy rate unchanged at 22 per cent for the seventh consecutive session, here on Monday.
According to a private news channel report, the announcement came after a meeting of the bank’s Monetary Policy Committee (MPC).
As per the issued statement, the Monetary Policy Committee said stressed on continuation of the current monetary policy stance to bring inflation down to the target range of 5 – 7 per cent by September 2025.
“The macroeconomic stabilization measures are contributing to considerable improvement in both inflation and external position, amidst moderate economic recovery,” statement added.
However, the MPC viewed that the level of inflation is still high.
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“At the same time, global commodity prices appear to have bottomed out with resilient global growth. The recent geopolitical events have also added uncertainty about their outlook.
Additionally, the upcoming budgetary measures may have implications for the near-term inflation outlook,” it stated.
Previous month, the MPC had maintained the status quo by upholding the key policy rate at 22 per cent.
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