SBP keeps interest rate unchanged at 11.5pc
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The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) on Monday kept the key policy rate unchanged at 11.5 per cent. The decision comes as prolonged tensions in the Middle East drive up global oil prices and fuel inflation. Bankers had anticipated a status quo, but s...
The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) on Monday kept the key policy rate unchanged at 11.5 per cent.
The decision comes as prolonged tensions in the Middle East drive up global oil prices and fuel inflation.
Bankers had anticipated a status quo, but some analysts had predicted that the central bank was in a difficult position and would lift the policy rate by 50 points.
Inflation returned to double digits to 11.1pc in August after falling to 9.2pc in July.
The central bank had raised its policy rate to 11.5pc by 100bps on April 27 in response to rising global energy prices and supply chain risks.
More to follow
Original Source
https://www.dawn.com/news/2029831/sbp-keeps-interest-rate-unchanged-at-115pc
