The State Bank of Pakistan has announced to keep policy rate unchanged at twenty two percent for next two months.

The Monetary Policy Committee at a meeting in Karachi today reviewed current economic situation of the country and noted that inflation has begun to decline.

The Committee, however, observed that level of inflation remains high and this requires continuity of the current monetary stance to bring inflation down to the target range of 5 - 7 percent by September next year.

The MPC noted the latest data continues to depict moderate pick-up in economic activity, led by agriculture.

Similarly, the external current account balance is turning out better than anticipated.