Monetary Policy Statement today January 24, 2015 RECORDER REPORT 0 CommentsE-mailPrintPDF The State Bank of Pakistan (SBP) will unveil its Monetary Policy Statement (MPS) for the next two months on Saturday, January 24. The central banks Board of Directors will meet today to review the economic indicators and finalise the monetary policy and later Ashraf Mahmood Wathra, Governor, State Bank will announce the monetary policy decision at a press conference to be held at SBP Head Office. Before the BoD meeting, the Advisory Committee on Monetary Policy will hold its meeting for deliberations on the policy to recommend a proposed decision to SBPs BoD. The SBP, in its previous monetary policy announced on November 13, 2014 reduced the policy rate by 50 basis points to 9.5 percent supported by rising foreign inflows and lower inflation outlook. The cut in November was announced after one and half year gap as previously the central bank slashed the policy rate in June 2013. Analysts and economists are expecting that the SBP will ease monetary policy for next two months as most of the economic indicators are in right direction and providing room for the rate cut. However, they said with policy meeting after every 2 months, theres likelihood that the SBP will follow a gradual policy of reducing benchmark interest rate because it is difficult to forecast the global price of oil after a sudden fall. With surplus current account deficit in December 2014, lower inflation, rising foreign inflows, lower oil/commodity prices in the world market and strengthening forex reserves, we expects that the SBP will reduce the policy rate by 50-100 basis points, economists said.
Posted on: Sat, 24 Jan 2015 05:20:31 +0000
Recently Viewed Topics
© 2015