Thursday, July 18, 2024

State Bank Likely to Raise Interest Rate to 21%

At its upcoming policy review, the State Bank of Pakistan is likely to raise interest rates even higher in an effort to combat crippling inflation.

The monetary policy committee is scheduled to begin its next meeting on April 4, according to reports in local media citing a brokerage business, and the central bank is anticipated to raise its policy rate by 100 bps (basis points) to a historic 21 percent.

The firm apparently performed a poll and revealed that the market is awaiting the impending monetary policy by taking responses from different sectors.

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