State Bank of Pakistan's July 27 Policy Decision

The State Bank of Pakistan (SBP) is set to announce its first monetary policy of fiscal year 2027 on July 27. Analysts expect the central bank to keep the policy rate unchanged at 11.5% as inflation climbs to around 11.7% and global oil price volatility, as well as heightened US‑Iran tensions, add pressure on the economy. The decision will address growth targets, external financing needs, and the impact of rising fuel and food prices on the balance of payments.

The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP), led by chairman Mian Anjum Nisar, urged SBP to begin a gradual reduction of the policy rate. BMP argues that a cautious easing cycle would support private investment, improve export competitiveness, and alleviate the cost of borrowing for businesses, provided inflation expectations stay anchored and external conditions improve.