The SBP will announce a new monetary policy for the next two months today, at an interest rate of 7%.
A meeting of the Board of Governance will be convened to determine the policy rate. The board members will discuss the policy rate in the meeting but the final decision on the policy rate will be taken by the Governor SBP.
The rate will be announced at a regular press conference after the interest rate is determined. Monetary policy is announced every two months. The interest rate in Pakistan has remained at 7 for the last 9 months.
When the Pakistan Tehreek-e-Insaf (PTI) took over the government, the interest rate was 6.5 percent, which gradually rose to 13.25 percent.
In January 2020, the interest rate was 13.2%. The Monetary Policy Committee, in its March 17 meeting, had decided to reduce the policy rate by 75 basis points, after which the interest rate was reduced from 13.25% to 12.50%.