SBP to announce Monetary Policy on 30th March

According to a press release by the State Bank of Pakistan, it will announce its Monetary Policy though a press release on Friday, 30^th March, 2018 in Karachi.

According to a survey conducted by MG Link News, State Bank of Pakistan is expected to raise interest rates by 25 – 50 basis points in the coming announcement as it seeks to negate the effects of depreciation on inflation keeping in view the nearing holy month of Ramzan in May, 2018.

During the survey, around 33 financial experts were asked on State Bank’s stance for the upcoming Monetary Policy decision, only three of whom were of the opinion that State Bank will keep the rate unchanged at 6 percent. However, some 27 analysts from the leading brokerage houses, mutual funds and other financial institutions were of the opinion that central bank is most likely to increase rate by 25 basis points. Meanwhile three were of the opinion that SBP might raise the rates by 50 basis points.

“Some changes are imminently required even as International Monetary Fund had recently said that government must consider the monetary policy with care and should not follow the path of loose monetary policy”, opined the experts.