SBP clarifies ambiguities over inflation forecast

MG News | November 22, 2021 at 11:27 AM GMT+05:00

0:00

November 22, 2021 (MLN): The State Bank of Pakistan (SBP) has negated some sections of the media wherein SBP’s average inflation forecast of 7-9% in FY22 is being interpreted as the “inflation target” and being compared to the inflation targets of other countries, a clarification note issued by the central bank said on Monday.

SBP’s inflation forecast represents projections for the current fiscal year, FY2021-22, it said.

On the other hand, Pakistan’s inflation target is set by the government which is 5-7 %. This target is to be achieved over the medium term.

"Monetary policy is anchored on achieving the government’s inflation target over the medium term, i.e. over the next 18-24 months," the notice further added.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,830.22 319.89M	-0.14% -243.51
ALLSHR	102,922.38 808.59M	-0.19% -197.80
KSE30	52,169.49 112.77M	-0.13% -68.01
KMI30	242,960.31 62.27M	-0.31% -745.44
KMIALLSHR	66,780.42 307.03M	-0.21% -140.25
BKTi	47,435.60 66.45M	0.00% 0.50
OGTi	33,373.62 6.42M	0.72% 237.60

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,165.00	87,795.00 86,650.00	-520.00 -0.59%
BRENT CRUDE	62.50	62.73 62.20	0.12 0.19%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.40 2.71%
ROTTERDAM COAL MONTHLY	96.45	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	58.55	58.75 58.22	0.17 0.29%
SUGAR #11 WORLD	15.32	15.32 15.16	0.12 0.79%