The State Bank of Pakistan (SBP) will announce its decision on the monetary policy today.

The central bank announced on Twitter that the SBP’s Monetary Policy Committee (MPC) is meeting today to discuss the country's monetary policy for the next two months.

“Governor SBP Dr Reza Baqir will announce the decision today at 5pm and SBP will tweet the decision at the same time,” said the SBP.

The committee, in its last meeting, had reduced interest rates by 625 basis points to 7% between March and June to support the economic growth in response to COVID-19 challenges.

The announcement on a new rate was expected in August but was deferred till September.