State Bank of Pakistan to announce monetary policy decision on December 12

The State Bank of Pakistan (SBP) is set to unveil its monetary policy on Tuesday, December 12. A statement released by the central bank on Friday informed that the Monetary Policy Committee (MPC) of SBP will convene in Karachi on December 12 to deliberate on monetary policy. 

Subsequently, the central bank will issue the official monetary policy statement. In its preceding meeting on October 30, the MPC judiciously opted to uphold the policy rate at 22%, citing global market volatility. 

The committee underscored the imperative of persisting with a stringent monetary policy stance to mitigate inflation.

PKR ends another week in green

The Pakistani currency is experiencing an upward trend against the US dollar for the past several sessions, concluding the week in positive territory on Friday. 

According to the SBP, the Pakistani rupee gained 0.09 per cent, closing at Rs283.87 against the US dollar.