KARACHI: The State Bank of Pakistan (SBP) will announce monetary policy on Monday, March 18, 2024.
The MPC will assess the overall economic and financial situation, leading indicators, data from various sectors, and major developments since the announcement of the previous monetary policy.
Later, the SBP will issue a monetary policy statement through a press release on the same day. The central bank’s MPC decided to keep the key interest rate at 22 percent at its meeting on January 29, 2024, emphasizing continued tight monetary policy and fiscal consolidation.
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The MPC has projected that continuity in the agriculture sector will lead to a modest economic recovery in FY2023-24, while momentum in the industrial sector is expected from the second half of FY24. The MPC expected real GDP growth to remain in the range of 2-3%, while average inflation could fall to a range of 23-25% by the end of the current financial year.
