The Monetary Policy Committee of State Bank of Pakistan (SBP) will meet on Monday

The Monetary Policy Committee of State Bank of Pakistan (SBP) will meet on Monday, November 23, 2020 at SBP Karachi to decide about Monetary Policy.

Later on, SBP will issue the Monetary Policy Statement on the same day.

Back in September, SBP decided to keep the policy rate unchanged at 7 percent as the committee was of the view that the current monetary policy stance is appropriate to support the emerging recovery while safeguarding inflation expectations and financial stability.

Governor SBP said the committee considered key trends and prospects in the real, external, and fiscal sectors and the resulting outlook for monetary conditions and inflation and finally decided to maintain the status quo.

However, at the same time, the forecast for inflation has raised slightly, primarily due to recent supply side shocks to food prices, he said, adding that average inflation is now expected to fall within the previously announced range of 7-9 percent during FY21, rather than marginally below.