ISLAMABAD: State Bank of Pakistan announce the key interest rates, mediareport has revealed.
The State Bank of Pakistan (SBP) announced on Friday that the interest ratewould remain unchanged at 13.25 percent but noted that inflation was quitehigh in the country owing to the rise in prices of food products.
The decision was announced by the state bank following a meeting of itsMonetary Policy Committee (MPC).
“The decision reflected the MPC’s view that recent developments have hadoffsetting implications for the inflation outlook,” the statement read,adding that decisions from the prior meeting had positive impacts.
“Market sentiment has begun to gradually improve on the back of sustainedimprovements in the current account and continued fiscal prudence.
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“The MPC noted that the SBP’s projection for average inflation for FY20remained broadly unchanged at 11 – 12 percent and maintaining the currentmonetary policy stance was appropriate,” it added.
The current account, after four years, recorded a surplus in October 2019,the statement noted, highlighting that a reduction in the trade deficit wasalso quite significant.
