Pakistan’s central bank will announce the first monetary policy decision of fiscal year 2024-2025 on July 29.

The State Bank of Pakistan (SBP) had reduced the interest rate by 1.5% to 20.5% in June, the first rate cut in four years.

The cut was made after inflation fell from a record high of 38% reached in May last year.

However, inflation has declined in recent months, and was recorded at 12.6% in June this year. Analysts expect that July inflation will clock in at under 11%.