KARACHI: The State Bank has issued a new monetary policy where the interest rate is maintained at 11 percent.
A meeting of the Monetary Policy Committee of the State Bank was held today under the chairmanship of the Governor of the State Bank. In which a decision was made regarding the interest rate.
Earlier, the majority of economists, analysts, and investors expected the State Bank to maintain the policy rate at the current level of 11%.
However, some circles believe that the State Bank will be concerned about the losses from the floods, the fears of rising inflation, and the economic review negotiations with the IMF this month, due to which there is a possibility of increasing the policy rate by 50 basis points.
Before the announcement of the monetary policy, there has been a wave of bullishness in the Pakistan Stock Exchange since morning.
The market has successfully crossed the threshold of one hundred and fifty-five thousand points by increasing 1148 points during trading.
