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Should the MPC meeting be preponed?

The most concerning and alarming element in the macro numbers is that inflation is growing out of control. Food inflation has exceeded 40 percent while the core inflation is close…

Questions the MPC didn’t answer

There were no surprises at all in the MPC (Monetary Policy Committee) meeting. Parts of the market tilted towards a 125-basis point rise but the SBP (State Bank of Pakistan)…

The MPC projections

The last meeting of the Monetary Policy Committee (MPC) of the SBP was held on the 14th of December 2021, after the meeting on the 17th of November 2021. Combined,…

Time to strengthen SBP’s MPC

The economic team, including SBP, is taking too much time to make moves, and in the process taking some unwarranted decisions. The disposition was not much different for previous regimes;…

MPC: wait and see

There are clear signs of current account slippages. This comes in tandem with economic recovery in Pakistan. A better fiscal year (2020-21) – in terms of growth and tamed current…

Galloping inflation

Pakistan is seeing today an unprecedented hike in the rate of inflation. The CPI has risen on a year-to-year basis in the month of February 2023 by as much as…

Better late than never, or just too late?

Too bad Finance Minister Ishaq Dar didn’t get to give Moody’s a “befitting reply” for downgrading Pakistan’s sovereign credit rating in October, or Fitch would not be teaching Pakistani people…

The crisis was foretold

Former Deputy Governor Dr Murtaza Syed in a hard-hitting article laments that the crisis facing the economy today was ‘foretold’. He points out that ‘with just $3.7 billion left in…

The future of our economy – Part III

Coming to the third structural reform: investment rates have lingered around 15 per cent of GDP in the last decade thus constraining the rate of growth. Savings rates are dismally…

SBP’s newfound realism

The recent meeting of the Monetary Policy Committee (MPC) of the SBP (State Bank of Pakistan) has led to the decision to raise the policy rate by 100 basis points…