State Bank to declare final monetary policy of fiscal year today

The State Bank of Pakistan will unveil the final monetary policy for this fiscal year today, with financial markets and institutions closely monitoring the critical decision on the interest rate.

Financial polls show that 49 percent of respondents expect the central bank to maintain the interest rate in the next monetary policy. Similarly, 49 percent believe that the State Bank may hike the interest rate in the forthcoming policy announcement.

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The study also finds that 34 percent of respondents expect the Monetary Policy Committee to raise the interest rate by 50 basis points, while 15 percent think the increase may be as high as 100 basis points. But 2 percent of respondents anticipate a possible interest rate reduction.

Market watchers expect the central bank to keep interest rate at 11.5 percent supported by lowering global oil prices, contained inflation trends and stability in the rupee.