SBP to announce monetary policy on Friday

RECORDER REPORT

KARACHI: The State Bank of Pakistan will announce its Monetary Policy for the next two months on Friday.

The State Bank's previous policy, which it announced in April this year, had kept interest rate unchanged at 12 percent, but raised the minimum profit rate on savings products by one percent, increasing it to 6 percent to encourage depositors.

The central bank's board will meet on June 8 to deliberate on key economic issues and finalise the policy for the next two months.

The policy, it is learnt, will be issued via a handout and the governor SBP will not hold a press conference in this regard.