SBP to announce monetary policy today

The State Bank of Pakistan (SBP) is all set to announce bimonthly monetary policy today (Saturday).

The Governor SBP Shahid Kardar would announce the policy in press conference here. The monetary policy committee would forward its recommendations before the announcement while the SBP reserves the right to approve or reject those recommendations.

Sources said that an independent committee could not be constituted despite deadline of January 2011 had already been set in this regard.

Meanwhile, economists expect the central bank to increase interest rate by 50 basis points whereas some expect the rate to remain same for the next 2 months.