The State Bank will announce the new monetary policy on Monday

Islamabad: State Bank will announce the new monetary policy on Monday, November 4. In which the interest rate is likely to decrease by two to two and a half percent.

The meeting of the Monetary Policy Committee of State Bank will be held in Karachi under the chairmanship of Governor State Bank on Monday. In which the international situation including the micro and macroeconomic situation of the country will be reviewed.

Inflation was predicted to reach 6.5 percent in October. While the rupee is stable and domestic foreign exchange reserves are at a 30-month high.

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Bankers say that these days banks are giving loans at 14.5% below Kybor rate. The businessmen’s representative organizations have demanded a four to five percent reduction in interest rates.

It should be noted that currently the prime interest rate is at 17.5%.