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SBP increases monetary policy rate to 7.5 percent

KARACHI: State Bank of Pakistan on Saturday announced to increase the monetary policy by 100 basis points to 7.50 percent effective from July 16, to curb demand and ensure near-term stability. According to a statement by the monetary policy committee, Pakistan achieved a thirteen-year high growth rate of 5.8 percent in FY18 and the average inflation was well below the 6.0 percent target. However, the challenges to Pakistan’s economy have further accentuated. Firstly, the provisional estimate for fiscal deficit for FY18…

SBP announces monetary policy, keeps interest rate unchanged

KARACHI: The State Bank of Pakistan on Saturday announced the monetary policy for the next two months and kept the rate of interest unchanged at 5.75 percent as the market experts had predicted. Governor State Bank of Pakistan Ashraf Mahmood Wathra while announcing the policy at the SBP's headquarters said that there was immense pressure on national and international economic indicators. He said that there was an increase in loans issued to the private and agriculture sector, while the power sector has registered…