SBP delays announcement of Monetary Policy

ISLAMABAD: The announcement of Monetary Policy has been delayed till next week due to engagements of Governor State Bank of Pakistan (SBP), Mahmood Ashraf Wathra, ARY News reported.

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State Bank of Pakistan announces two-month monetary policy in the second week of a month. But due to engagements of SBP officials including Governor SBP, monetary policy for the next two months will be announced next week.

Earlier on Thursday, Mahmood Ashraf Wathra called on Federal interior Minister Chaudhry Nisar, Finance Minister Ishaq Dar and officials Federal Board of Revenue (FBR).

Sources informed that measures are being taken by the authorities to restrict funding of terrorist.

SBP on November 15, 2014, announced the monetary policy fixing interest rate at 10 per cent or 100 basis points.

The monetary policy rate is the rate at which commercial banks are allowed to borrow from the central bank’s discount window. The central bank uses this tool to control money supply in the economy.

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SBP delays announcement of Monetary Policy

by Zohaib Kazmi