Federal Budget

SBP to announce monetary policy on June 12

SBP to announce monetary policy on June 12

Business

The central bank would issue the Monetary Policy Statement on the same day

KARACHI (Dunya News) - The State Bank of Pakistan (SBP) will announce monetary policy on Monday (June 12, 2023).

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

The central bank would issue the Monetary Policy Statement on the same day following the MPC meeting.

The MPC in its previous meeting held on April 4, 2023, decided to increase the policy rate by 100 basis points to 21 percent arguing that raising the policy rate was an important step towards anchoring inflation expectations around the medium-term target, which is critical for achieving the objective of price stability.