The State Bank of Pakistan (SBP) has announced its latest monetary policy, deciding to keep the benchmark policy rate unchanged at 11.50% for the next two months. The decision was made after the Monetary Policy Committee reviewed the country’s latest economic indicators, inflation trends, and overall financial outlook.
Speaking at a press briefing, SBP Governor Jameel Ahmad said the committee unanimously agreed to maintain the current interest rate. He noted that inflation has continued its downward trend compared with previous years, with average inflation recorded at 5.5% between July and February.
The governor also highlighted improvements in Pakistan’s external sector. He said the country’s current account deficit stood at US$139 million in fiscal year 2026, while the current account deficit for fiscal year 2027 is projected to remain between 0% and 1% of GDP.
According to the SBP, workers’ remittances are expected to reach US$20.20 billion by December 2026. Jameel Ahmad said the forecast remains unchanged despite global economic uncertainty, adding that exports and remittances continue to serve as key sources of foreign exchange for Pakistan.
He expressed confidence that government initiatives would help improve exports during fiscal year 2027. The governor also revealed that Roshan Digital Accounts have attracted approximately US$300 million over the past four months, reflecting continued confidence from overseas Pakistanis.
The SBP chief said imports are expected to increase during the current fiscal year, but foreign inflows are also projected to remain strong. He noted that Pakistan has successfully increased its foreign exchange reserves despite meeting all external payment obligations.
Looking ahead, Jameel Ahmad stated that Pakistan is expected to make US$21.5 billion in external debt repayments during fiscal year 2027. He said the central bank remains focused on maintaining economic stability and ensuring that the country’s financial obligations are met through prudent monetary and fiscal management.
