SBP said that it would reveal its monetary policy four times during the first half of this year.
State Bank of Pakistan’s MPC to convene on January 27 for monetary policy review. The State Bank of Pakistan’s (SBP) Monetary Policy Committee would meet on January 27 to discuss the country’s monetary policy, the central bank said on Monday.
SBP Governor Jameel Ahmad will hold a press conference to reveal the policy decision following the MPC meeting.
In the last meeting, the committee reduced the policy rate by 200 bps to 13% amid the falling pace of the inflation rate and record trading at the stock market.
Earlier this month, the SBP said that it would reveal its monetary policy four times during the first half of this year. Following the January meeting, additional sessions are planned for March 10, May 5, and June 16.
Analysts from a brokerage firm suggested that the central bank might consider a further cut of 100 bps in the upcoming meeting.
The MPC meeting may result in a modest cut of 100 basis points (bps) to the policy rate, Intermarket Securities said in a statement. It added that a smaller rate reduction could be viewed negatively by investors.
According to data from the Pakistan Bureau of Statistics, Pakistan’s headline inflation rate decreased to 4.1% year-on-year in December 2024, down from 4.9% in November 2024.
In the previous MPC meeting, the central bank lowered the key policy rate by 200 bps, bringing it down to 13%.
The South Asian country is navigating a challenging economic recovery path and has been buttressed by a $7 billion facility from the International Monetary Fund (IMF) in September.
