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our correspondent
Saturday, April 06, 2013
From Print Edition


KARACHI: The State Bank of Pakistan (SBP) will announce the monetary policy statement on April 12, a spokesman for the central bank said on Friday.


The central bank’s board of directors will meet at the SBP premises on Friday to take its decision on the discount rate for the months of April and May.


The board of directors will evaluate the performance of all economic and monetary indicators, especially inflation, government borrowing and current account position.


Analysts predict that in a view of macroeconomic conditions, the central bank is likely to maintain the discount rate at the existing level of 9.5 percent.


They see very little chance of reducing the discount rate in the upcoming policy statement.


The central bank has brought down the discount rate to a single-digit of 9.5 percent in its December monetary policy decision after a gap of five years.