State Bank of Pakistan will outline its monetary policy for the first six months of the fiscal year 2005-06 (July-June) on July 21, a bank spokesman said on Monday. "The central bank's board of governors will meet in Quetta on July 21 to approve the monetary policy," SBP chief spokesman Syed Wasimuddin said.
"The meeting will start at 3pm and the statement will be released as soon as it is approved by the board," he said.
The SBP releases its monetary policy statement twice a year.
The bank has been following a tight monetary policy in recent months to counter inflation, which, as measured by the consumer price index, reached a near 8-year high of 11.10 percent in April, before easing to 9.84 percent in May.