Abb Takk News

SBP To Raise Interest Rate in New Monetary Policy

Karachi (March 27, 2018): The State Bank of Pakistan will announce monetary policy on Friday for two months through the press statement, an official said.

The Bank is likely to increase interest rate in the range of 25 basis points or 50 basis points while announcing the monetary policy by the end this week.

About 33 financial experts were asked about the central bank monetary policy stance, which showed that only three of the wizards were of the opinion that the rate to remain unchanged at 6 percent.However, some 27 analysts from the leading brokerage houses, mutual funds, and other financial institutions were of the opinion that central bank to increase the rate by 25 basis points, while three were of the opinion that it might rise by 50 basis points.

If the State Bank of Pakistan increased the benchmark interest rate it would be done to put a lid on devaluation and upcoming Ramzan where prices show spiral owing to rising demand.

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