The State Bank of Pakistan (SBP) to make a Monetary policy announcement today, 30th of July 2025. This meeting of the Monetary Policy Committee (MPC) will be held at the headquarters of SBP, and later, the press conference of Governor Jameel Ahmed will be held, where it will be declared whether the interest rate will be minimized or retained.
The current interest rate of SBP is 11%. The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Karachi Chamber have, among other players in the business community, requested the central bank to lower the policy rate in order to stimulate business activity.
The market is betting on a rate cut due to some recent results of treasury bill auctions recorded at lower yields. As per Arif Habib Securities survey.
- 47.4% expect a 50 basis points (0.5%) cut
- 31.6% expect a 100 basis points (1%) cut
- 21.1% expect no change
A separate poll by Topline Securities shows:
- 56% forecast a rate cut between 50 to 100 basis points
- 37% expect no change
- 2% predict a 200 basis points cut
The May 5 announcement of monetary policy had 100 basis points cut. Economists are recommending additional rate easing as the inflation drops, the current account surplus and poor GDP growth. There are still some risks hanging, like the increasing imports and rupee devaluation.
Business leaders are pushing for a substantial rate cut of 5–6%. KCCI President Javed Balwani compared Pakistan’s interest rate with regional economies—Vietnam (6.3%), Cambodia (3%), Indonesia (6%), and Bangladesh (5.5%)—and called for a reduction to 6–7% to stay competitive.
 to make a Monetary policy announcement today, 30th of July 2025. This meeting of the Monetary Policy Committee (MPC) will be held at the headquarters of SBP, and later, the press conference of Governor Jameel Ahmed will be held, where it will be declared whether the interest rate will be minimized or retained.){kind=link}