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monitory policy

SBP increases monetary policy rate to six percent

KARACHI: The State Bank of Pakistan on Friday decided to raise the monetary policy by 25 bps to six percent, in order to preempt overheating of the economy and inflation breaching its target rate, considering that the policy decision would balance growth and stability in the medium to long term. The central bank said that the policy rate decision is based on four key factors the economy has witnessed important changes since November 2017. Firstly, the Pakistani rupee has depreciated by around five percent, and secondly…