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Policy rate up 50bps to 12pc on rising risks
KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) on Monday raised its key policy rate by 50 basis points (bps) to 12 percent, in line with market expectations, as worsening geopolitical developments clouded the inflation outlook and heightened risks to the external account and economic growth. Addressing a press conference after the meeting, SBP Governor Jameel Ahmed announced the MPC’s decision, saying that nine of the committee’s 10 members voted in favour of the rate hike. The latest increase brings the cumulative increase in the SBP’s policy rate to 150 basi...
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