Karachi June 9 2023: The Monetary Policy Committee of SBP will meet on Monday, June 12, 2023 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.
Pakistan’s inflation reached a record high in May but that’s unlikely to prompt the central bank to raise rates further in June, says Bloomberg in its report published last week.
“With real rates having turned positive on a month forward-looking basis, the State Bank of Pakistan has already likely lifted rates high enough and should wait and see the impact of its previous tightening, in our view” writes Bloomberg.
CPI inflation climbed to 38% year on year in Hay, up from 364% in the month prior, That was below Bloomberg estimate of 38.6% and above the consensus forecast of 37.6%. Food, housing and transportation remain the biggest contributors to the price gains.
