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Friday, December 13, 2024

Home Business SBP likely to raise interest rate

SBP likely to raise interest rate

by News desk
April 4, 2023
in Business

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State Bank of Pakistan is likely to raise the interest rate by 2 per cent at the upcoming meeting of the Monetary Policy Committee to unlock the stalled IMF loan programme.

The staff-level agreement between the International Monetary Funds and Pakistan was scheduled to take place on February 9.

The Monetary Policy Committee is scheduled to meet today to discuss the interest rate. The sources privy to the development said that the interest rate might be jacked up by 22pc from 20pc to meet IMF condition.

They further said that the International Monetary Funds has demanded to take the interest rate near to the inflation rate.