ISLAMABAD: The State Bank of Pakistan (SBP) on Thursday announced themonetary policy.

SBP has increased the interest rate by 25 basis points to 10.25 per cent.

The policy was announced by SBP Governor Tariq Bajwa following a meeting ofthe Monetary Policy Committee.

During the news conference, Bajwa hoped Pakistani exports would grow,adding that there was a high current account deficit in the country.

“The fiscal deficit continues to be high, we have to bring the fiscaldeficit and the current account deficit down for the economy to be stable,”Bajwa said.