KARACHI: State Bank of Pakistan (SBP) will announce a monetary policy for the next two months on Tuesday (today).
Governor of the SBP Dr Riza Baqir will announce the monetary policy after a meeting of the monetary policy committee.
In its last monetary policy announced on May 20, the central bank had jacked up the discount rate by 150 basis points (12.25 per cent).
The bank informed since the last monetary policy was issued, three major changes had occurred including a $6 billion package from the International Monetary Fund (IMF), 5.93 per cent depreciation of the rupee, and an increase in government’s borrowing in last nine months.
The State Bank also forecasted that growth rate would remain sluggish in the fiscal year 2019, whereas it may see a slight improvement in the year 2020.
The current account deficit was, however, recorded to be 29 per cent lesser in nine months of the current fiscal year compared to the first nine months of last fiscal year.
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