Karachi April 26 2024: The State Bank of Pakistan (SBP) will announce Monetary Policy on April 29 in a meeting of the Monetary Policy Committee (MPC).
The MPC will meet on Monday, April 29 to decide about the Monetary Policy, a press release issued by SBP said. SBP will issue the Monetary Policy statement through a press release on the same day, it added.
During the previous meeting, the Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 22 percent. In approaching today’s decision, the Committee noted that inflation, in line with earlier expectations, has begun to decline noticeably from H2-FY24.
The Committee, however, observed that despite the sharp deceleration in February, the level of inflation remains high and its outlook is susceptible to risks amidst elevated inflation expectations. This warrants a cautious approach and requires continuity of the current monetary stance to bring inflation down to the target range of 5 – 7 percent by September 2025. The Committee reiterated that this assessment is also contingent upon continued targeted fiscal consolidation and timely realization of planned external inflows.
