Pakistan central bank to announce Monetary Policy today

• Central banks of several countries have slashed their interest rates to stimulate growth in the wake of a global slowdown due to the mysterious virus.
• The SBP has maintained its policy rate at 13.25pc since July 2019.

The State Bank of Pakistan (SBP) would announce its Monetary Policy today (Tuesday) for the next two months.

The central bank will make a decision on the key policy rate, which stands at 13.25 percent. The announcement comes amid the world is gripped by the novel coronavirus pandemic and central banks of several countries have slashed their interest rates to stimulate growth in the wake of a global slowdown due to the mysterious virus.

It may be mentioned that the global stocks have plummeted due to panic selling, the Pakistan Stock Exchange (PSX) on Monday nosedived to record worst-ever single-day decline due to panic selling in all sectors by local and foreign investors on fears over coronavirus spread.

The KSE-100 Index closed at 33,684.91 points, with a worst-ever single-day decline of 2,375.97 points or 6.59 percent.