Karachi: The State Bank has decided to maintain the interest rate at 22 percent while issuing the monetary policy. Inflation fell from the highest level of 38 percent in May to 27.4 percent in August. The news has been given.
According to Express News, the State Bank has issued a new monetary policy in which there has been no increase in interest rates. The State Bank has announced to maintain the interest rate at 22 percent for the next two months.
According to Express representative, the difficult financial situation is gradually improving, good news has been received from the stock market, the value of the dollar has decreased and the value of the rupee has improved. Inflation was considered, which is the biggest problem of the people at the moment.
The monetary policy has given the good news to the people that inflation will decrease in the coming months, the clear effects of the decrease in inflation will start to appear from October, the crackdown on dollar, sugar and commodity hoarding. has had a positive impact on the economy, the inflation which was at the highest level of 38% in May has come down to 27.4% by August, so today the Monetary Policy Committee decided to keep the interest rate at 22% instead of increasing it. What is the decision?
According to Express, the committee also says that inflation will be reduced by the end of the current fiscal year and the inflation rate will come between 5 to 7 percent by the end of the fiscal year 2024-25. The committee has taken steps to achieve this target. The committee has also expressed its commitment to take measures to reduce inflation, which is supported by government decisions.
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