State Bank to announce monetary policy on June 12

KARACHI – State Bank of Pakistan will announce monetary policy on Monday, June 12, 2023.

In a statement, the central bank announced to convene a meeting of the Monetary Policy Committee (MPC) on June 12 to review the overall financial position of the country, economic indicators as well as the performance of different internal and external sectors.

It was reported that SBP would issue the Monetary Policy Statement on the same day following Monetary Policy Committee meeting.

Earlier in April, officials decided to jack up the policy rate by 100 basis points to 21 percent as the South Asian nation is facing back-breaking inflation amid an economic meltdown.

Annual food inflation was recorded for urban and rural areas, as core inflation, which is based on food and energy prices, stood at a record high.