SBP exceeds market expectation, policy rates up by 150 bps

MG News | May 20, 2019 at 04:00 PM GMT+05:00

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May 20, 2019 (MLN): Exceeding market’s expectation, the State Bank of Pakistan has announced further contraction in Monetary Policy for the month of June and July, thus bringing it up by 150 basis points (bps) to 12.25%.

A meeting of the Monetary Policy Committee took place in Karachi earlier today, whereby the committee decided upon the aforesaid action.

The announced policy rate will be applicable from May 21, 2019.

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