Karachi: State Bank of Pakistan (SBP) on Monday announced to retain interest at 22 percent.
Governor SBP Jameel Ahmed has announced the interest rate while announcing a new monetary policy at a press conference in the SBP headquarter in Karachi.
The SBP has announced the interest rate for next the two months.
In his presser, the Governor SBP Jameel Ahmed apprised that all the restriction on opening of import and LCs have lifted by the SBP.
The Governor SBP said that figures of inflation has started to improve adding that this year inflation will remain at 27 to 29 percent.
Jameel Ahmed informed that the inflation will reduce at some extent during July-December 2023 after it the inflation will be decreased prominantly.
He said that the next year the inflation will reduce substantially and will reach at 20 to 22 percent adding that before end of 2025 the inflation will lower down to five to seven percent.
1/4 The Monetary Policy Committee (MPC) decided to maintain the policy rate at 22 percent in its meeting today.https://t.co/Jo3dUKwmcQ#SBPMonetaryPolicy pic.twitter.com/zBcFAS4Xoa
— SBP (@StateBank_Pak) July 31, 2023
Regarding inflation he said that we need to see situation of Russia and Ukrain war and economic conditions at world over.
He apprised that next year growth rate expected to remain 2 to 3 percent.
