Chart 15 shows the evolution of the projected inflation path (as summarised by the end-of-horizon projected inflation rate). Over the period 2018-2019, the end-of horizon projections for inflation had gradually declined before the pandemic, such that the risk of downside de-anchoring was already elevated before the pandemic.
SBP is committed to continue its efforts to deliver real benefits to the farming community and it is hoped that with the joint efforts of policy makers and the industry, agri-financing would soon emerge as a sound, scalable and sustainable business segment for banks in Pakistan. 12.