Abb Takk News
Business

SBP Keeps Interest Rate Unchanged at 7%

KARACHI: The State Bank of Pakistan in its Monetary Policy for the next two months has decided to maintain interest rate at seven percent.

At its meeting today, the Monetary Policy Committee (MPC) of the central bank decided against any change in the discount rate and maintained the rate at existing seven percent.

The MPC noted that since the last meeting in September, the domestic recovery has gradually gained traction, in line with expectations for growth of slightly above 2 percent in FY21, and
business sentiment has improved.

According to the central bank statement, the recent spike in Covid cases in Pakistan and many other countries presents considerable downside risks. While there has been encouraging news on vaccine development, which could take some time to fully implement worldwide.