SBP keeps policy rate unchanged at 11%

September 15, 2025 (MLN): The Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 11 percent in its meeting held on September 15, 2025. 

The State bank of Pakistan (SBP) will release the Monetary Policy Statement shortly, it shared on its website.

The decision is consistent with the market sentiments, as analysts already predicted that SBP could hold the rate 
at 11%.

Since May, the policy rate has remained at 11pc after the central bank’s last reduction. The SBP itself, in its last monetary policy review, had highlighted risks tied to energy prices and global uncertainty, which reinforced the case for maintaining the status quo.

Furthermore, one of the key risks adding pressure and inflationary impact is of the recent floods. The disaster has badly disrupted supply chains, particularly in agriculture, driving up the cost of staple items such as rice and vegetables in some cases by Rs30–40 per kg.

These pressures, alongside uncertainty in global energy markets, have heightened concerns of renewed price spikes in the months ahead.

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