Pakistan central bank raises interest rate to tame inflation ...Middle East

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NEW DELHI: Pakistan’s central bank on Monday raised its key policy rate by 100 basis points (one per cent) to 17 per cent on Monday to tame inflation.The State Bank of Pakistan (SBP) said its monetary policy committee (MPC) felt it was “critical to anchor inflation expectations and achieve the objective of price stability” to support sustainable economic growth.Core inflation, which excludes fresh food and energy prices, has been on a rising trend for the past 10 months, the bank noted in a statement.“The committee noted that inflationary pressures are persisting and continue to be broad-based. If these remain unchecked, they could feed into higher inflation expectations over a longer than a

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Last updated : 23 January 2023 clock 05:29 PM

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Pakistan central bank raises interest rate to tame inflation ...Middle East

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