The State Bank of Pakistan announced its decision to maintain the key policy rate at 22% in the latest Monetary Policy Committee (MPC) meeting. This move comes in the wake of an IMF review and amidst various economic factors influencing the decision.
The SBP released a press statement stating that the MPC recognized that headline inflation had risen in September 2023 as anticipated. However, the central bank projected a decline in inflation for October and expected it to continue on a downward trajectory, especially in the latter half of the fiscal year.
This decision by the SBP comes at a crucial juncture for Pakistan’s economic growth, financial stability, and inflation control, with the SBP carefully monitoring the evolving situation to make data-driven policy adjustments as needed.
