Karachi October 31 2024: The Monetary Policy Committee (MPC) of SBP will meet on Monday, November 04, 2024 to decide about the Monetary Policy.
Later on, SBP will issue the Monetary Policy Statement through a press release on the same day.
Yesterday, the State Bank of Pakistan (SBP) raised a total of PKR 820 billion through the auction of market treasury bills at significantly lower rates ahead of Monetary Policy Committee meeting.
Cut-off yields decreased by 140 basis points for 3 Month T-Bills, 84 basis points for 6-Months and 64 basis point for 12 Month papers. The cut-off yield for 3 Months, 6 Months and 12 Months paper settled at 13.9 percent, 13.5 and 13.1 percent, respectively.
Inflation in Pakistan is expected to ease to 6 to 7 percent for October 2024 due to improvement in domestic supply chain of perishable food items and drop in wheat prices, according to Ministry of Finance.
In last meeting, the Monetary Policy Committee (MPC) decided to cut the policy rate by 200 bps to 17.5 percent, effective from September 13, 2024.
