SBP to announce policy rate on Nov 4

MG News | October 31, 2024 at 06:28 PM GMT+05:00

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October 31, 2024 (MLN): The Monetary Policy Committee (MPC) of SBP will meet on Monday, November 04, 2024, to decide about the Monetary Policy, according to the press release issued by the Central Bank.

Later on, SBP will issue the Monetary Policy Statement through a press release on the same day.

The Central Bank is expected to cut its policy rate by 200 basis points (bps) as a significant slowdown in inflation gives policymakers enough room to continue monetary easing in a bid to spur growth.

That would be the fourth consecutive rate cut since June 2024.

Pakistan's annual inflation rate fell to 6.9% in September, expanding the real interest rate above 10%, which is important to continue guiding inflation to the central bank's medium-term target.

To recall, in the last MPC meeting held on Septemeber 12, the committee slashed interest rates by 200bps to 17.5%.

The reduction was the third in a row, bringing the total decrease since June 2024 to 450bps.

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