State Bank of Pakistan to announce monetary policy on Nov 4

KARACHI: The State Bank of Pakistan (SBP) will announce the monetary policy on Monday, 24th November 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 about the Monetary Policy. “Later on, SBP will issue the Monetary Policy Statement through a press release on the same day,” it added.

The MPC will review the overall economic and financial situation, major indicators, data of different sectors, and major developments taken place since the announcement of the previous monetary policy.

Earlier on September 12, the SBP made a major cut by reducing 200 basis points in its policy. The central bank slashed the interest rate by two percent to 17.5% in the policy announced two months back.

Analysts were expecting that the committee will continue monetary easing between 150-200bps on a lower inflation outlook.

The state bank stated that the inflation went down to single digit in August at 9.64 percent. “The inflation continuously going down”.

The central bank said that the growth in current year likely to remain 3.5 percent.