State Bank of Pakistan set to unveil monetary policy decision

WEB DESK: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is set to convene on Monday, January 29, 2024, to deliberate on crucial matters related to the country’s monetary policy.

The meeting will be closely watched as Governor SBP, Jameel Ahmad, is scheduled to reveal the committee’s decision at a press conference later in the day.

Market participants are eagerly anticipating the outcome of this meeting, with widespread speculation suggesting that the central bank is likely to maintain the current interest rates.

Monetary Policy Committee of #SBP will meet on Monday, January 29, 2024 to decide about Monetary Policy. Governor SBP Mr. Jameel Ahmad will announce the Monetary Policy decision at a press conference on same day after the meeting.https://t.co/TwADsmtwJK#SBPMonetaryPolicy pic.twitter.com/k5Z6ZcFL73

— SBP (@StateBank_Pak) January 23, 2024

The decision to keep interest rates unchanged has been a consistent trend, as observed in the last MPC meeting held on December 12, 2023.

During the December meeting, the committee opted to sustain the interest rate at 22 per cent, marking the fourth consecutive session without any adjustments.

This decision was met with mixed reactions from various economic quarters, prompting analysts to closely scrutinise the upcoming meeting for any potential shifts in policy.

The economic landscape has witnessed its share of challenges, including inflationary pressures and global economic uncertainties.

Governor Jameel Ahmad’s announcement following the MPC meeting will provide valuable insights into the committee’s rationale behind the decision, shedding light on the factors influencing the monetary policy direction.

The announcement is expected to have a significant impact on financial markets and shape expectations for the coming months.

With the date fast approaching, all eyes are on the State Bank of Pakistan as it prepares to unveil the next chapter in the country’s monetary policy journey on January 29, 2024.

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