SBP to hold MPC meeting on June 12

MG News | June 09, 2023 at 12:38 PM GMT+05:00

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June 09, 2023 (MLN): The Monetary Policy Committee of the State Bank of Pakistan (SBP) will meet on Monday, June 12, 2023, at SBP Karachi to decide about the Monetary Policy, press statement issued by the cenral bank issued today.

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

In the last Monetary Policy Committee (MPC) meeting on April 04, 2023, the committee decided to raise the policy rate to an all-time high by 100 basis points (bps) to 21%.

The economy continued to remain in the relentless grip of inflation as the consumer price index (CPI) for the month of May 2023 has soared by 38% YoY, compared to 36.4% YoY in the last month and 13.8% YoY in May 2022.

Despite the surging inflation, the market talk suggests that the benchmark policy rate will remain unchanged amid the high base effect.

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