KARACHI – State of Pakistan is set to announce the monetary policy rate onMonday as a meeting of the central bank’s Monetary Policy Committee (MPC)will be held today to discuss the policy rate for the upcoming weeks.
SBP will be announcing monetary policy since the return of the country’snew finance czar Ishaq Dar, who replaced Miftah Ismail.
Reports in local media quoting sources said SBP is likely to keep theinterest rate unchanged at 15 percent for the next seven weeks in wake ofsoaring inflation and flood devastation.
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The cash-strapped country has seen a cumulative increase of 775 basispoints over the course of nearly one year from 7.25 pc in September 2021 toa record high of 15 percent in July 2022.
