Karachi: The State Bank of Pakistan (SBP) on Tuesday (November 16) decided to hold a Monetary Policy Committee (MPC) review meeting this week on November 19 (Friday), seven days sooner than previously scheduled., news sources reported. The decision, as per the central bank’s official Twitter handle, was taken in light of the extraordinary circumstances related to inflation and balance of payment matters.
According to the details, the MPC was supposed to convene on November 26th, however, due to shifting economic, inflation, and monetary policy-related issues, the meeting was rescheduled. The latest meeting will focus on the review of monetary policy, and a statement on policy revisions or alterations will be made on the same day as the meeting. The MPC also resolved to handle the growing import cost, as well as inflation, which reached 9.2 % in November.
According to market speculation and analysts, the central bank may adjust its monetary policy by 25-50 basis points at its upcoming meeting. It is important to note that after remaining unchanged for 13 months, MPC changed the interest rates to 7.25% from 7% in its September meeting.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
