Tight monetary policy likely to continue

KARACHI: As the world continues to grapple with uncertain oil prices, the State Bank of Pakistan (SBP) is unlikely to meet its FY27 mid-term inflation target of 5-7 per cent, financial experts and analysts said. Consumer Price Index-based inflation of 10.3 per cent in September clearly indicates that industry, businesses, and the general public will bear the brunt of these cost-push inflationary pressures. Experts believe the central bank will not lower interest rates to stimulate economic activity. Instead, it will maintain a tight monetary stance to support ‘sustainable’ growth. For the…