State Bank of Pakistan (SBP) has increased the interest rate by one percent. The interest rate increased to 22 percent.
A meeting of the Monetary Policy Committee (MPC) of the central bank was held today in which it was decided to increase the interest rate.
In the statement released by SBP, it was said that in the emergency meeting of the Monetary Policy Committee, it was revealed that since the last meeting, the risk of inflation has increased in the country, to address this, the interest rate has been increased by one percent. It was decided to do.
The statement said that the MPC believes that these risks mainly come from the implementation of new measures in the financial and external sectors, which are important in the context of the implementation of the ongoing program of the International Monetary Fund (IMF).
It also said that the MPC noted that an increase in interest rates is necessary to keep real interest rates positive on a forward-looking basis, which would drive inflation towards the medium-term target of 5 to 7 percent by the end of FY25. will help reduce
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