KARACHI – The State Bank of Pakistan on Saturday has raised interest rateby 100 basis points to 8.5 per cent.
The step has been taken to stabilise the economy imperiled by large twindeficits and rising inflation.
“… further consolidation efforts are required to ensure macroeconomicstability and therefore (the monetary policy committee) has decided toraise the SBP target policy rate by 100 bps to 8.5 per cent effective from1 October 2018,” the State Bank of Pakistan (SBP) said in a monetary policystatement for the next two months.
