SBP to announce monetary policy on March 26

KARACHI: State Bank of Pakistan (SBP) will announce its monetary policy for the subsequent two months on March 26, Syed Wasimuddin, chief spokesman for the State Bank of Pakistan, said on Wednesday.

In the last monetary policy review on Jan. 29, the SBP left its key policy rate unchanged at 14 percent because of an improving external current account and stable financial markets.

The January decision followed three consecutive rate rises over six months intended to discourage the government from borrowing from the SBP. State Bank of Pakistan Governor Shahid Kardar said this plan had proved ineffective.