Abb Takk News

SBP Retains Interest Rate At 13.25 % for Next Two Months

ٰISLAMABAD: The State Bank of Pakistan (SBP) held its main policy rate at 13.25 per cent on Monday, taking a pause from a series of hikes as data pointed to a stabilising inflation rate.

The bank last lifted rates in July by 100 basis points, its ninth cut since the start of 2018, as it faced rising inflation, a substantial current account deficit and downward pressure on the rupee.

The decision also comes at a time of scrutiny for the economy as an International Monetary Fund team arrived in Islamabad on Monday to review progress on reforms agreed as part of a bailout package in July.