KARACHI: The Monetary Policy Committee of State Bank of Pakistan (SBP) will meet on Tuesday (today) to announce its decision on the key interest rate for the next two months.
The monetary policy statement will be issued the same day through a press release, the SBP said. Earlier in its monetary policy of 2020, the SBP held rates at 13.25pc. “While controlling inflation we also have to support sectors that contribute to our exports,” SBP Governor Dr Reza Baqir had said.
It is expected that the SBP will reduce the interest rate this time.
Earlier, in an interview with Bloomberg, State Bank of Pakistan Governor Reza Baqir has vowed to take action to assist the financial markets keeping in view financial fall outs due to the coronavirus pandemic.
The central bank “is monitoring the situation closely and remains ready to take any actions needed to address disorderly market conditions,” he said. The central bank “is committed to a market-based exchange rate and intervenes when necessary to address disorderly market conditions,” Baqir added.
