More steps likely to contain inflation: SBP
By Adnan Rafique

ISLAMABAD—Governor State Bank of Pakistan (SBP) Shamshad Akhtar said further strict monetary steps may be taken to control inflation.
She added these were monetary policies which controlled inflation and brought it down, otherwise it would have been in double digit, private TV channel (Geo) reported.
Talking to the local media, she said tight monetary policies adopted by SBP during last few years had ensured to control and bring down the increasing inflation otherwise it would have been in double-digit.
She said for the last 4-5 years, Pakistan has adopted international best practices in issuing the monetary policy statements twice in a year.
First monetary policy statement is issued in the month of July, which is supposed to lay out the direction for entire year, while second statement is issued in January after assessing events and performance of six corresponding months, she added.
Shamshad Akhtar said mid-course adjustment is also adopted, whenever needed to keep economy on track. The policy is formulated after intense review.
She said there is an internal system that after every six weeks SBP assesses the data and whenever the mid-course correction is required “we adopt and apply this on the monetary policy.”
She clarified that it was not essential that monetary policy must be announced when monetary policy statement is issued, adding, “it can be announced during the mid-course whenever required.”
To a question the Governor SBP said exports of the country are increasing but, not at fast pace.