The central bank released the minutes of the meeting days before the next MPC meeting on Tuesday to review the monetary policy. This week, Prime Minister Imran Khan has twice said that the central bank is going to cut the interest rate. The minutes showed that the central bank would cut the growth projection for the private sector credit for this fiscal year. Economic growth prospectsThe SBP staff apprised the MPC that the impact of supply shocks in agriculture might lead to lower than expected economic growth. The central bank has based its latest assessment on the second estimate of Ministry of National Food Security and Research.

Source: The Express Tribune March 14, 2020 03:11 UTC