SBP to announce monetary policy decision next week

WEB DESK: The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) is scheduled to convene on Monday, July 29, to deliberate on the country’s monetary policy.

This information was revealed by the deputy governor of the SBP during a conference today.

Following the meeting, the SBP will release the monetary policy statement through a press release on the same day.

At the previous MPC meeting on June 10, the committee decided to cut the interest rate by 150 basis points (bps), bringing it down to 20.5 per cent.

This decision marked a significant shift after maintaining a record-high rate of 22 per cent for a year. The reduction was the first in nearly four years, reflecting the bank’s efforts to combat escalating inflation.

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