SBP to announce its monetary policy on July 16
KARACHI: The State Bank of Pakistan (SBP) will announce its monetary policy for the next two months on July 16 under the new governor, Dr Reza Baqir.
According to a press release, SBP Governor Dr Reza Baqir will unveil the decision of the Monetary Policy Committee at a press conference.
The interest rate remains high, the economic industry does not expect any downward shift in the policy rate, which has been rising for over a year and is presently at 12.25%.
Since May 2018, the interest rate has been increased by 5.75 percent, whereas the inflation has been recorded to be 8.9 percent in the month of June, 2019.
The SBP believes the high interest rate is a must to get control over the rising inflationary pressure in the economy.