KARACHI: The State Bank of Pakistan (SBP) maintained the benchmark interest rate at 21pc as it announced monetary policy on Monday.
The Monetary Policy Committee — which is empowered to take a decision keeping in view the macroeconomic fundamentals — met with the SBP governor in the chair.
The SBP maintained the interest rate despite the fact that inflation has remained elevated.
To recall, in its last announcement in April, the MPC — established under the SBP’s Amendment Act — increased the benchmark policy rate by another 100 basis points (bps) to 21%, a record high.
