The Monetary Policy Committee of the State Bank of Pakistan (SBP) has decided to maintain the interest rate at 21 percent.
According to the SBP statement, inflation data for April and May are in line with expectations, inflation expectations are coming down.
According to the statement, domestic demand will continue to be under pressure due to tighter monetary policy.
According to the SBP announcement, inflation will begin to decrease from June, the trend of decreasing commodity prices in the global market will continue.
According to the statement, the current account balance remained positive in March-April, due to which the pressure on the foreign exchange has eased.
According to the SBP announcement, the national production has decreased substantially in the fiscal year 2023, the budget for the next fiscal year is indicating a slight contraction.
According to the statement, the Monetary Policy Committee has reviewed the impact of interest rate hike.
According to the SBP statement, the current interest rate is correct to bring inflation expectations to medium-term targets, the outlook for the economic situation is subject to local uncertainty and resolving external weaknesses.
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