The State Bank of Pakistan (SBP) will announce the Monetary Policy Statement (MPS) on Friday (May 15) with expectations of further cut in the key policy rate.
The independent monetary committee of the SBP will meet at the SBP head office to take a decision on interest rate.
Most of the economists are expecting up to 100 basis cut in key policy rate.
According to Muhammad Suhail of Topline, based on a poll conducted by Topline Securities of leading bankers and fund managers, 62 percent of participants expect 100bps cut in policy rate in the monetary policy meeting. Some 19 percent think the SBP will cut the rate by 50bps while 12 percent believe the cut will be 150bps, he maintained.
The committee had already cut the policy rate by 4.25 percent to 9 percent in just two months to support the economy in the wake of COVID-19.
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