125 basis points interest rate 15% new monetary policy announced

125 basis points increase, interest rate 15%, new monetary policy announced

Karachi (Daily Pakistan Online) State Bank of Pakistan has increased the interest rate by 125 basis points to 15 percent.

Acting Governor SBP Murtaza Syed announced the new monetary policy. The SBP Monetary Policy Committee has decided to increase the interest rate by 125 basis points after which the interest rate in Pakistan has gone up to 15%. In addition, interest rates on EFS and LTFF have been linked to monetary policy.

The Governor SBP has said that the economic growth rate will be three to four percent in the next financial year while the inflation rate is likely to be 18 to 20 percent which will continue for a year. Are He said that inflation remained a challenge for all and targeted subsidy would be given to the common man.

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