KARACHI: The State Bank of Pakistan has opted to hold the benchmark interest rate steady at 11 percent for the next six weeks, prioritizing economic stabilization amidst ongoing inflationary pressures and external challenges.
In a meeting held in Karachi, the Monetary Policy Committee, led by SBP Governor Jameel Ahmad, evaluated critical economic indicators such as inflation patterns, foreign exchange reserves, and the balance of payments situation.
Following a thorough review, the central bank decided to keep the policy rate unchanged at 11 percent, signaling a measured stance aimed at fostering economic stability alongside a gradual recovery process.
The SBP cited rising inflation, the economic impact of recent floods, and directives from the International Monetary Fund as key factors influencing this decision.
By maintaining the current rate, the central bank aims to manage inflation expectations effectively while safeguarding economic growth from undue strain.
