SBP set to announce new monetary policy today

KARACHI: The State Bank of Pakistan (SBP) will announce a new monetary policy on Tuesday, ARY News reported.

According to a statement released by central bank, the State Bank of Pakistan’s Monetary Policy Committee (MPC) will meet today to announce the new policy rate.

“The Monetary Policy Committee of State Bank of Pakistan will meet on Tuesday, March 8, 2022 at State Bank of Pakistan Karachi to decide about the Monetary Policy. Later on, SBP will issue the Monetary Policy Statement through a press release on the same day,” read the statement.

The Monetary Policy Committee of #SBP will meet on Tuesday, March 8, 2022 at SBP Karachi to decide
about the Monetary Policy. Later on, SBP will issue the Monetary Policy Statement through a press
release on the same day.

— SBP (@StateBank_Pak) March 7, 2022

In the previous monetary policy meeting held on December 14, 2021,the SBP increased the interest rate by 100 basis points to 9.75 percent to counter inflationary pressures and ensure that growth remains sustainable.

“The MPC decided to raise the policy rate by 100 basis points to 9.75%, to counter inflationary pressures, address the current account deficit, and ensure that growth remains sustainable,” the statement said.