The benchmark KSE-100 index lost 726 points or 1.6% of its value on Thursday, a day before the State Bank’s monetary policy announcement. But experts are expecting the central bank to not increase the interest rate. Currently, it stands at 7%. “The market came under pressure due to rumors that the State Bank might increase the policy rate by 50 basis points (half percent),” said Maaz Mulla, an analyst at JS Research. “The spike in the coronavirus cases has also shaken the investor sentiment.” Mulla, however, said the central bank was likely to maintain the policy rate. Raza Jafri, the head of Equities Intermarket Securities, expects the same. “Competing economies such as Tur
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