business
Saturday Jan 22 2022
By
BDBusiness Desk

SBP to unveil monetary policy on Monday

By
BDBusiness Desk
A logo of the State Bank of Pakistan (SBP) is pictured on a reception desk at the head office in Karachi, Pakistan July 16, 2019. — Reuters/File
A logo of the State Bank of Pakistan (SBP) is pictured on a reception desk at the head office in Karachi, Pakistan July 16, 2019. — Reuters/File 

  • Governor SBP Reza Baqir to brief media after MPC meeting.
  • Analysts expect SBP to keep the policy rate unchanged.
  • SBP raised policy rate by 100 basis points to 9.75% in last meeting.


KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will meet on Monday to decide the monetary policy, a statement in this regard said.

The central bank, in a statement issued Friday, said Govenor SBP Dr Reza Baqir is set to brief the media after the MPC meeting.

Analysts expect the central bank to keep the benchmark policy rate unchanged, according to The News.

Governor Baqir, in a recent interview, said the central bank is taking “a pause to first look at the effects of the tightening” it had done then the bank will “consider what monetary policy settings should be.”

The SBP raised the policy rate by 100 basis points to 9.75% in its last meeting on December 14, 2021, to counter inflationary pressures, address the current account deficit, and ensure that growth remains sustainable.

The central back has hiked interest rates by 275 basis points since September 2021.