{"id":70772,"date":"2020-09-22T15:58:31","date_gmt":"2020-09-22T10:58:31","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=70772"},"modified":"2020-09-22T15:58:32","modified_gmt":"2020-09-22T10:58:32","slug":"mpc-decides-to-maintain-policy-rate-at-7","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/mpc-decides-to-maintain-policy-rate-at-7.html","title":{"rendered":"MPC decides to maintain policy rate at 7%"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Islamabad: The State Bank of Pakistan\u2019s (SBP) Monetary Policy Committee (MPC) held a meeting on Monday and announced maintaining the policy rate at 7% in its new monetary policy, according to news sources.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-enhances-refinancing-limit-for-banks-shares-new-figures.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP enhances refinancing limit for banks, shares new figures<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SBP, in its official statement, stated that the MPC has considered real, external and fiscal sectors\u2019 key trends and prospects, and the resulting predicted outlook for the inflation rate and monetary conditions. It said that the committee deemed that the current monetary policy rate is appropriate to support the emerging recovery \u201cwhile safeguarding inflation expectations and financial stability.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-registers-record-high-remittances-in-july-2020.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP registers record-high remittances in July 2020<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It was also revealed that since the last MPC meeting held in June, the business confidence and the growth outlook had improved considerably. The statement also revealed that owing to the \u2018supply-side shocks\u2019 to food prices in the aftermath of the anti-coronavirus lockdown, it is now predicted to remain between the range of 7-9% during the (Fiscal Year) FY2020-21.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, the SBP said that the \u2018targeted measures\u2019 implemented by the bank and the government have added PKR 1.58 trillion (or 3.8% of the GDP) in households and business cash inflow.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Previously, on June 25, the country\u2019s monetary policy rate was slashed \u2013 for the fifth time \u2013 from 100 points to 7% \u2013 which led to an overall reduction of<a href=\"https:\/\/www.zameen.com\/news\/sbp-announces-policy-rate-cut-by-100-points-to-7.html\" target=\"_blank\" rel=\"noreferrer noopener\"> 625 base points<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The State Bank of Pakistan\u2019s (SBP) Monetary Policy Committee (MPC) held a meeting on Monday and announced maintaining the policy rate at 7% in its new monetary policy, according to news sources. Read: SBP enhances refinancing limit for banks, shares new figures The SBP, in its official statement, stated that the MPC has considered real, external and fiscal sectors\u2019 key trends and prospects, and the resulting predicted outlook for the inflation rate and monetary conditions. It said that the committee deemed that the current monetary policy rate is appropriate to support the emerging recovery \u201cwhile safeguarding inflation expectations and financial stability.\u201d Read: SBP registers record-high remittances in July 2020 It was also revealed that since the last MPC meeting held in June, the business confidence and the growth outlook had improved considerably. The statement also revealed that owing to the \u2018supply-side shocks\u2019 to food prices in the aftermath of the anti-coronavirus lockdown, it is now predicted to remain between the range of 7-9% during the (Fiscal Year) FY2020-21. Moreover, the SBP said that the \u2018targeted measures\u2019 implemented by the bank and the government have added PKR 1.58 trillion (or 3.8% of the GDP) in households and business cash inflow.&hellip;<\/p>\n","protected":false},"author":75,"featured_media":64016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[24208,40084,2631],"persona":[],"class_list":["post-70772","post","type-post","status-publish","format-standard","has-post-thumbnail","category-legal-taxation","tag-monetary-policy-committee-mpc","tag-mpc-decides-to-maintain-policy-rate-at-7","tag-state-bank-of-pakistan","cat-15015-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MPC decides to maintain policy rate at 7% - Zameen News<\/title>\n<meta name=\"description\" content=\"The SBP Monetary Policy Committee (MPC) held a meeting on Monday and announced maintaining the policy rate at 7% in its new monetary policy\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/mpc-decides-to-maintain-policy-rate-at-7.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MPC decides to maintain policy rate at 7% - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The SBP Monetary Policy Committee (MPC) held a meeting on Monday and announced maintaining the policy rate at 7% in its new monetary policy\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/mpc-decides-to-maintain-policy-rate-at-7.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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