SBP Policy Rate Pakistan Economy Monetary Policy — State Bank of Pakistan headquarters in Karachi where the Monetary Policy Committee held its final FY26 meeting on June 15, 2026.

SBP Policy Rate Unchanged at 11.5% in June 2026

SBP Policy Rate Unchanged as Oil Prices Fall and US-Iran Deal Eases Inflation Fears

By Desk Assistant On Jun 15, 2026

State Bank of Pakistan – (Web Desk) – The State Bank of Pakistan (SBP) has kept the SBP policy rate unchanged at 11.5% after its Monetary Policy Committee (MPC) met in Karachi on Monday for the final review of the fiscal year 2025-26.

The committee held its fourth meeting of the calendar year and decided to hold rates steady, giving businesses and borrowers some breathing room after months of economic uncertainty.

Just weeks ago, the SBP had raised the policy rate by 100 basis points in its April 27 meeting — the first hike in nearly three years. That decision was driven by rising oil prices, higher shipping costs, and growing risks from the Middle East conflict.

However, the situation shifted quickly. The United States and Iran announced a peace agreement, reopening the Strait of Hormuz and sending global oil prices sharply lower. This removed a major source of inflation pressure that had worried policymakers.

With energy costs cooling down and global markets stabilizing, the MPC saw no need to raise rates further. The committee assessed that the current rate is enough to keep inflation in check going into the new fiscal year.

For ordinary Pakistanis, this means loan repayment costs will not rise further for now. Businesses can plan ahead with more confidence as the borrowing environment remains stable.

The SBP will continue to watch global developments closely, especially oil price trends and any new risks from the Middle East, before making its next move in FY27.