State Bank of Pakistan’s Monetary Policy Committee Meets Today; Interest Rate Decision Expected
KARACHI:The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is scheduled to meet in Karachi today, with a key decision on the country’s benchmark interest rate expected.
Following the meeting, the Governor of the State Bank will announce the new monetary policy during a press conference.
Pakistan’s policy interest rate currently stands at **11.50%**, while business leaders and industrialists have been urging the central bank to reduce it to a single-digit level in an effort to support economic growth and lower borrowing costs.
In April this year, the SBP raised the policy rate by **100 basis points** amid heightened tensions in the Middle East and growing economic uncertainties. The central bank subsequently decided to keep the rate unchanged at its June meeting.
Most economists expect the MPC to maintain the policy rate at **11.50%**. According to a recent survey, **97%** of economists believe there will be no change in the benchmark rate, while only **3%** expect a **100-basis-point** cut.
