Karachi: (RightNow) The State Bank of Pakistan’s Monetary Policy Committee holds a crucial meeting today to announce the new monetary policy. Experts anticipate that the interest rate will remain at 11.5%.

In April this year, the interest rate was increased by 100 basis points due to Middle East tensions. It was maintained in June as well.

The meeting, chaired by Governor Jameel Ahmed, will review the economic situation. A cautious policy will be adopted amid global oil price uncertainties.

The country’s economic indicators are showing improvement. The current account deficit remained limited to $136 million, while foreign exchange reserves reached $18 billion.

It is noteworthy that the inflation rate stood at 11.1%, close to the State Bank’s target. Governor Jameel Ahmed has expressed hope for a reduction in inflation.