State Bank increases policy rate by 50 basis points to 12pc
“SBP hikes interest rate by 50 bps to 12%, ending its September pause as rupee pressure and Middle East tensions weigh on the economy. KARACHI (Dunya News) – The …”
KKARACHI —The State Bank of Pakistan has announced its new monetary policy and raised the policy rate by 50 basis points. The central bank increased the interest rate from 11.5 percent to 12 percent.
On September 14, the State Bank had kept the rate unchanged at 11.5 percent. The Monetary Policy Committee announced the new policy after reviewing global and domestic data.
Earlier, experts had predicted that, owing to the recent tensions in the Middle East and pressure on the rupee, the central bank was likely to raise the key policy rate by up to 50 basis points, which would take the current rate of 11.5 percent up to 12 percent.
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