Monetary policy: SBP keeps interest rate unchanged at 9.75%

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KARACHI: In line with market expectations, the State Bank of Pakistan (SBP) on Monday maintained the status quo and left the benchmark interest rate unchanged at 9.75%% for the next two months to lower inflation and keep the ongoing economic recovery sustainable. “In reaching its decision, the monetary policy committee (MPC) considered key trends and prospects in the real, external and fiscal sectors, and the resulting outlook for monetary conditions and inflation,” the central bank said after the meeting. The central bank added that looking ahead, and against the backdrop of the developments that have improved the inflation outlook, the MPC was of the view that current real interest rates on a forward-looking basis are appropriate to guide inflation to the medium-term range of 5-7%, support growth, and maintain external stability. 

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