” Pakistan’s State Bank to announce monetary policy on March 18 ” | GNN INFO

KARACHI: The State Bank of Pakistan (SBP) will announce its monetary policy on Monday March 18, 2024, ARY News reported on Friday.  

According to a statement issued here on Friday, the Monetary Policy Committee (MPC) of SBP will meet on March 18 to decide about the Monetary Policy.

The MPC will review the overall economic and financial situation, major indicators, data of different sectors, and major developments taken place since the announcement of the previous monetary policy.

Later on, SBP will issue the Monetary Policy Statement through a press release on the same day.

The MPC of the central bank, in its meeting held on January 29, 2024, decided to maintain Pakistan’s policy rate at 22 percent while emphasizing on continued tight monetary policy stance and fiscal consolidation.

The MPC had anticipated continuity of the agriculture sector led to moderate economic recovery in fiscal year 2023-24 while momentum in the industrial sector was expected to pick up from the second half of FY24.

The MPC expected that real GDP growth would remain in the range of 2 to 3 % while average inflation might fall in the range of 23 -25 % by the end of the current financial year.