AGL 5.51 Increased By ▲ 0.11 (2.04%)
ANL 8.49 Decreased By ▼ -0.30 (-3.41%)
AVN 75.73 Decreased By ▼ -0.43 (-0.56%)
BOP 5.21 Increased By ▲ 0.04 (0.77%)
CNERGY 4.42 Decreased By ▼ -0.06 (-1.34%)
EFERT 81.53 Increased By ▲ 0.43 (0.53%)
EPCL 49.54 Increased By ▲ 0.54 (1.1%)
FCCL 12.68 Decreased By ▼ -0.02 (-0.16%)
FFL 5.52 Decreased By ▼ -0.07 (-1.25%)
FLYNG 6.74 Decreased By ▼ -0.24 (-3.44%)
FNEL 4.64 Increased By ▲ 0.01 (0.22%)
GGGL 8.45 Decreased By ▼ -0.14 (-1.63%)
GGL 13.85 Decreased By ▼ -0.21 (-1.49%)
HUMNL 6.03 Increased By ▲ 0.53 (9.64%)
KEL 2.56 Decreased By ▼ -0.04 (-1.54%)
LOTCHEM 27.62 Decreased By ▼ -0.09 (-0.32%)
MLCF 23.75 Increased By ▲ 0.07 (0.3%)
OGDC 71.22 Decreased By ▼ -0.23 (-0.32%)
PAEL 15.16 Decreased By ▼ -0.04 (-0.26%)
PIBTL 4.87 Decreased By ▼ -0.04 (-0.81%)
PRL 15.86 Increased By ▲ 0.06 (0.38%)
SILK 1.09 Increased By ▲ 0.04 (3.81%)
TELE 8.84 Decreased By ▼ -0.15 (-1.67%)
TPL 7.08 Decreased By ▼ -0.08 (-1.12%)
TPLP 19.20 Decreased By ▼ -0.02 (-0.1%)
TREET 20.87 Decreased By ▼ -0.27 (-1.28%)
TRG 136.73 Decreased By ▼ -0.02 (-0.01%)
UNITY 16.54 Decreased By ▼ -0.26 (-1.55%)
WAVES 9.16 Increased By ▲ 0.06 (0.66%)
WTL 1.34 Decreased By ▼ -0.03 (-2.19%)
BR100 4,158 Decreased By -27.7 (-0.66%)
BR30 15,339 Decreased By -127.2 (-0.82%)
KSE100 41,652 Decreased By -167.7 (-0.4%)
KSE30 15,380 Decreased By -68.1 (-0.44%)
Business & Finance

Monetary Policy Committee to meet on November 25, says SBP

  • SBP will issue the Monetary Policy Statement through a press release on the same day
Published November 22, 2022
Follow us

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will meet on Friday, November 25, 2022, at the SBP headquarters in Karachi.

In a short statement on Tuesday, the central bank said that following the meeting, SBP will issue the Monetary Policy Statement through a press release on the same day.

In its last meeting in October, the MPC had maintained the policy rate unchanged at 15%.

The MPC back then noted “the continued deceleration in economic activity as well as the decline in headline inflation and the current account deficit since the last meeting. It also noted that the recent floods have altered the macroeconomic outlook and a fuller assessment of their impact is underway”.

“The MPC was of the view that the existing monetary policy stance strikes an appropriate balance between managing inflation and maintaining growth in the wake of the floods,” the MPC was quoted as saying in the monetary policy statement.

The policy rate has been raised by a cumulative 800 basis points since September 2021.

Many believe the central bank to maintain a status quo in the upcoming announcement.

“We expect the SBP to keep the policy rate unchanged at 15% in the upcoming monetary policy,” said Arif Habib Limited (AHL) in a note. “To recall, in the last MPS too, policy rate was kept unchanged at 15% and this stance was taken in lieu of a continued deceleration in economic activity as well as a decline detected in headline inflation since the last meeting held in August.”

Monetary policy: market expects no change in key interest rate

As per the survey poll conducted by AHL regarding market expectations in the upcoming monetary policy, 84.2% of the total respondents, which include representatives from financial services and manufacturing, are of the view that there will be no change in the policy rate for upcoming MPS.

Meanwhile, 15.8% of respondents expect a rate hike.

Another poll conducted by Topline Securities also conveyed that a majority expects status quo in the upcoming monetary policy announcement.

Comments

Comments are closed.

Monetary Policy Committee to meet on November 25, says SBP

Forex reserves fall to $6.7bn on repayments

CARs: ADB lists barriers to trade flows

FX reserves may rise in H2FY23: All debt repayments on track, says SBP governor

Saudi Arabia, China sign strategic deals

‘Country of Particular Concern’: Pakistan conveys its concerns to US

765kV DC transmission lines: FD asks PD to take action on award of contract

Cabinet approves restoration of 11 revoked POL exploration licences

Amendments to power plants’ documents,transition from USD Libor benchmark to SOFR: MoF urges PD to nominate body as focal point

Consignments of imported soybean feed: FTO may issue release order today

Pharma supplies: KTBA urges FBR to revisit clarification about ‘further tax’