SBP announces policy rate at 5.75%
While addressing a press conference, Bajwa said that financial activities were rising with the growing national economy, adding that service sector has observed 6 percent growth.
However, the inflation rate is expected to increase to 5.5 percent from recent 4.5 percent.
The governor of central bank announced this after a meeting with SBP's Monetary Policy Committee members.
Earlier on May 20, the Monetary Policy Committee held a meeting and reached a decision to not change the interest rate.
Also during the meeting, the committee had discussed there was no space left to lower the interest rate.
- Indian PM Modi wishes Muslim on Eid Milad-un-Nabi05:42 PM | 19 Oct, 2021
- Hundreds flock to celebrate birthday of Holy Prophet at Iraq’s ...03:38 PM | 19 Oct, 2021
- Yashma Gill shares adorable photos from her birthday bash03:00 PM | 19 Oct, 2021
- Pakistani celebrities who passed away in 202102:00 PM | 17 Oct, 2021
- India falls to 101 in Global Hunger Index 2021, 9 ranks below Pakistan10:54 AM | 16 Oct, 2021
- Celebrity deaths in 202111:59 PM | 12 Oct, 2021
- Hollywood stars with surprising hidden talents07:11 PM | 13 Sep, 2021