SBP Monetary Policy, interest rate unchanged at 13.25%

The State Bank of Pakistan (SBP) has announced its monetary policy for the next two months on Nov 22 (Friday).

According to details, Governor State Bank Baqir Raza chaired a meeting regarding monetary policy for the next 2 months of the current fiscal year at the Karachi Head Office on Friday.

A statement issued by the central bank after the meeting, in view of the current economic data of the country the inflation rate was still quite high due to the increase in the prices of food items and the interest rate unchanged at 13.25 percent.

State Bank Governor Baqir Raza said inflation is likely to come down in the coming months, despite rising food prices, inflation will decline.

Prior to the policy announcement, the Monetary Policy Committee of the central bank would meet to discuss and decide on the new policy rate.

SBP would issue the monetary policy statement through a press release on the same day.

Previously, the SBP had kept the rate of interest unchanged at 13.25pc.