SBP to Announce New Monetary Policy on May 16

It was recently revealed from Karachi that the State Bank of Pakistan is almost on the verge of making the new monetary policy and it is going to reveal it as soon as May 16, 2014. Analysts claim that all expectations regarding the cutting of discount rates have died down.

Since currently Pakistan has a tough monetary policy and the discount rates offered by banks are tough, few entrepreneurs take the initiative to refer to banks for loan in order to start a new business. However, the former acting governor of State Bank of Pakistan, Saeed Ahmad, clearly mentioned in a meeting that there is going to be surprise for the entrepreneurs as the government is trying its best to bring down the interest rates in the upcoming monetary policy.

On the other hand, the analysts state otherwise. They claim that due to surge in the rate of inflation and with IMF backing the monetary policy, they have asked the Pakistani government to tighten it up a little more. Therefore, all hopes regarding the slashing of interest rates have now died down.

The analysts, therefore, have claimed that the discount rate from the Central Bank for the last quarter of the current fiscal year are going to remain unchanged and will stick to 10 percent. 

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Posted by Ahmad Mehdi on May 13 2014. Filed under Business, Latest News, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.