SBP to announce monetary policy on Sept 20

The Monetary Policy Committee of SBP will meet on Monday, September 20, 2021, at SBP Karachi to decide about the Monetary Policy. Later on, SBP will issue the Monetary Policy Statement through a press release on the same day.

The central bank issued an advanced calendar of MPC meetings earlier in May 2021 through a press release and all the meetings are being held accordingly.

Earlier on July 27, the SBP had maintained status quo and left the benchmark interest rate unchanged at 7 per cent for the next two months to support businesses during the Covid-19 pandemic.

Before that, due to the lockdowns imposed to contain the spread of Covid-19 in the country, the SBP had aggressively slashed the benchmark interest rate by 625 basis points from March to June 2020 to 7pc.

The central bank, through monetary policy statements over the last few months, has repeatedly hinted that it might maintain the rate at the current level of 7pc until the economy recovers from Covid-19 pandemic.