KARACHI: The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) will meet on Monday to decide on monetary policy, according to a statement.

In a statement published Friday, the central bank stated that Governor SBP Dr Reza Baqir will inform the media following the MPC meeting.

According to The News, analysts predict the central bank to hold the benchmark policy rate steady.

In a recent interview, Governor Baqir stated that the central bank is taking “a pause to first look at the impact of the tightening,” after which it would “evaluate what monetary policy settings should be.”

In its most recent meeting on December 14, 2021, the SBP raised the policy rate by 100 basis points to 9.75 percent in order to combat inflationary pressures, reduce the current account deficit, and guarantee that growth is sustainable.

Since September 2021, the central bank has raised interest rates by 275 basis points.

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