SBP to announce monetary policy on March 19

The State Bank of Pakistan (SBP) will issue a monetary policy on March 19.

According to a press release issued by the External Relations Department of the SBP, the Monetary Policy Committee of the central bank will meet on Friday in Karachi to decide about the monetary policy.

The SBP will issue the monetary policy statement through a press release on the same day.

Earlier on January 22, the SBP had kept interest rates on hold at 7 per cent as it sought to balance economic headwinds from the Covid-19 pandemic with the need to curb inflation.

The move was the third time that the central bank had kept its main policy rate unchanged after cutting it by 625 basis points, down from 13.25pc, at the time the global pandemic hit the country’s economy in February 2020.

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