SBP increases interest rate by 100 bps to 9.75%
Published 5 years ago on Dec 15th 2021, 12:22 am
By Web Desk
Karachi: The State Bank of Pakistan has increased its policy rate by 1%. With this increase the interest rate has jumped from 8.75% to 9.75%.
According to the central bank’ monetary policy on Tuesday, the SBP increased the benchmark interest rate by 100 basis points to 9.75% for the next one month.
The market was already expecting the hike keeping in view the ever-rising import bill and trade and current account deficits.
It is noteworthy here that the inflation reading for November soared to 11.5% which was much higher than the central bank’s projection of 7-9% inflation for the year.
The next monetary policy will be announced on January 24, 2022.
Algeria severs diplomatic ties with UAE over ‘provocative, hostile’ actions
- 5 گھنٹے قبل
Trump’s Smithsonian vendetta, briefly explained
- 16 گھنٹے قبل
Tongue routs Pakistan as England dominate third Test
- 8 گھنٹے قبل
Pakistan condemns persecution of Yasin Malik by India
- 2 گھنٹے قبل
The Jewish Democrats trying to get to “yes” on Abdul El-Sayed
- ایک دن قبل
Apple debuts passport-shaped foldable phone, called Duo
- ایک دن قبل
Polio frontline workers get 28pc stipend increase
- 2 گھنٹے قبل
The strange grief of not wanting kids
- 7 گھنٹے قبل
The mystery at the heart of Trump’s trade war
- 16 گھنٹے قبل
Eight Muslim countries welcome UK ban on goods from illegal Israeli settlements
- ایک دن قبل
Your food may be safe. Its packaging is another story.
- 16 گھنٹے قبل
Why Iowa is a state to watch in the midterms
- 16 گھنٹے قبل
You May Like
Trending
