KARACHI: The State Bank of Pakistan (SBP) will announce the monetary policy on Monday, November 24, 2024, the central bank said on Thursday.
In a press statement issued here, the SBP said that its Monetary Policy Committee (MPC) will meet on Monday, November 04, 2024 to decide on monetary policy. “Subsequently, the SBP will issue a monetary policy statement through a press release on the same day,” it added.
The MPC will review the overall economic and financial situation, key indicators, data from various sectors, and key developments since the last monetary policy announcement.
Earlier on September 12, the State Bank had made a major cut in its policy by 200 basis points. The central bank cut the interest rate by two percentage points to 17.5 percent in a policy announced two months ago.
Analysts were expecting the committee to continue monetary easing between 150-200bps on a low inflation outlook.
The State Bank said inflation in August came in single digits at 9.64 percent. “Inflation is going down continuously”.
The central bank said that the growth rate this year is likely to be 3.5 percent.
