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Monetary Policy: SBP maintains interest rate

KARACHI: State Bank of Pakistan has announced its bi-monthly monetary policy, ARY News reported on Saturday.

The board of directors of the central bank approved the last monetary policy of the fiscal year 2013-14.

It has been the first monetary policy of the new central bank governor Mehmood Ashraf Wathra.

The central bank in a policy statement announced to maintain the interest rate at 10 percent.

The bank in its statement said that the the state of the national economy has improved but still there are several challenges. It stressed for the need of containing the surging inflation.

The State Bank said that the foreign exchange reserves and the rupee's value have improved, which are good signs for the economy.   

The central bank currently pursuing a tough monetary policy.

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