SBP to Maintain its Monetary Policy at 7%

The State Bank of Pakistan (SBP) recently announced to keep its monetary policy at 7%. The announcement came today in the bimonthly meeting.

SBP

The State Bank of Pakistan (SBP) recently announced to keep its monetary policy at 7%. The announcement came today in the bimonthly meeting.

It is added that the monetary policy committee of the SBP met today to release its interest rates for the two months wherein it decided to keep it stable.

The committee further said that since the last meeting in November, the domestic recovery has gained some further stress.

Most economic activity data and indicators of consumer and business sentiment have shown continued improvement.

The meeting said that while utility tariff increases may cause an increase in inflation, it is just a matter of time.

It is also said that inflation is still expected to drop within the earlier stated range of 7-9% for FY21 and trend toward the 5-7% target range over the medium-term.

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