Abb Takk News

Major Reason Behind Price Hike is High-Interest Rate: Raza Baqir

KARACHI: Governor State Bank of Pakistan Reza Baqir said that the major cause behind the inflation was the high-interest rate that was leaving significant impacts on business.

Addressing press conference in Karachi, SBP governor said that the rate of interest set by the monetary policy committee but not the only rate of interest but few other factors also affect the business.

He mentioned that in the second half-yearly duration the inflation will go down and after it, rate of interest will be reconsidered.

“Due to massive volume of the problem in the past, the government has raised few unpopular measures as the negative indication in the growth of Gross Domestic Product (GDP)  is not show the development but economy growth still slower,” he said.