State Bank of Pakistan decides to keep interest rate at 11.5 percent
The State Bank of Pakistan, after reviewing the country's economic situation, has announced that it will maintain the interest rate at 11.5 percent. According to a statement issued by the central bank, this decision was deemed necessary for the stability of the national economy in light of current economic conditions.
It should be noted that prior to this, on April 27, the central bank had increased the interest rate by 100 basis points. The purpose of this increase was to mitigate the effects of rising global energy prices and the difficulties faced in the supply chain.
Economists say that the rise in fuel and other commodity prices in the global market has affected economies worldwide, including Pakistan. The central bank is keeping a close watch on these challenges in order to keep inflation under control.
This decision will help the business community and ordinary citizens in their financial planning. The State Bank's Monetary Policy Committee will make further decisions in upcoming meetings in light of economic data.
Future economic improvement will depend on global market conditions and an increase in national exports. The government and the central bank are working on various measures to ensure economic stability in the country.