State Bank announces new monetary policy
Addressing a press conference after convening Monetary Policy Committee (MPC) meeting in the port city on Monday, SBP Governor Jameel Ahmad said that the mark-up rate will remain unchanged for the next two months.He said that the MPC has decided to keep the policy rate unchanged after reviewing the overall financial position, economic indicators and performance of different sectors.Jameel Ahmad said that the SBP expected 2-3 percent growth during the current fiscal year.He said that the inflation is expected to remain in the range of 20-22 percent during the ongoing financial year.The SBP has already announced a half-yearly schedule of MPC meetings on a rolling basis.The MPC, headed by SBP Governor Jameel Ahmad, convened its first meeting of fiscal year 2023-24 on Monday.The remaining three meetings of the MPC during the first half of the current fiscal year will be convened on September 14 (Thursday), October 30 (Monday and December 12 (Tuesday).MPC formulates the monetary policy, takes decisions relating to intermediate monetary objectives, key interest rates and the supply of reserves and makes regulations for their implementation; approve and issue the monetary policy statement and other monetary policy measures. SuchTV, 01 Aug, 2023
Visit to News Source Webpage
More Business & Finance News
View More News
Disclaimer:
All information on this page are taken from third party reliable sources of relevant industry channels, with simple aim just for general information for our users. Hamariweb never endorse or recommend for any trading advice as well as accuracy of data provided here.