SBP to announce monetary policy on Saturday

State Bank of Pakistan’s board of directors will meet on July 12, 2014 for deliberations on key economic issues to finalise the monetary policy for next two months.

The SBP board will take a decision on the key policy rate after reviewing all economic internal and external prospects particularly inflation, government borrowing, forex reserves and external accounts. After the board meeting, Ashraf Mehmood Wathra, Governor, State Bank will announce monetary policy at a press conference.

SBP’s spokesman Khubaib Usmani said that announcement of monetary policy will be made in Lahore instead of Karachi.

Economists predicted that SBP will keep policy rate unchanged at 10 per cent on monetary policy for next two months ahead of expected inflationary pressure on the economy followed by Ramazan and budget impact.