KARACHI (APP) - The State Bank of Pakistan (SBP) will announce its monetary policy for the next two months on November 30, a State Bank official said here on Monday. The monetary policy will be for the months of December and January, the official said. The Central Board of Directors of SBP will meet in Karachi to approve the policy and the meeting will be chaired by Governor Yasin Anwar. Balancing inflation and growth considerations through monetary policy alone is a difficult task. The year-on-year inflation in September 2011 has come down to 10.5 percent from 13.3 percent in June 2011 though month-on-month inflation is still more than 1 percent on the average, said a private sector banker while referring to the SBP statistics. The main factors contributing in SBPs decision to reduce its policy rate by 50 or more basis points for the next two months would mainly depend on CPI (Consumer Price Index) inflation and government borrowing. Banking analysts said that inflow of workers home remittances may be a bridge for Central Bank officials to work on a reconcilable solution to the problem pertaining to the foreign exchange reserves and credit growth in the private sector. Moreover, the impact of floods in Sindh continue to haunt the economy with no respite to the industries as well and the consumers who matter much to the retail banking and its growth, a banking source at the Central Bank added. Efforts to balance inflation and economic growth through monetary policy would be a difficult task, he pointed out.