SBP keeps the interest rate at 22 percent now.

KARACHI: On Monday, the State Bank of Pakistan (SBP) decided to keep the existing interest rate at 22%.

After the Monetary Policy Committee (MPC) of the bank met earlier in the day, Governor Jameel Ahmed of the State Bank of Pakistan made the announcement.

Governor Jameel Ahmed emphasised that although it was at 29% in the previous month, a decline in inflation is anticipated in January. He also mentioned the reduction of the current account deficit to 0.7%. The SBP now has $8.3 billion in foreign reserves, which suggests that the balance of payments has improved.

KARACHI: The State Bank of Pakistan (SBP) made the decision to maintain the current interest rate at 22% on Monday.

The statement was made by State Bank of Pakistan Governor Jameel Ahmed following the meeting of the bank’s Monetary Policy Committee (MPC) earlier in the day.

Even though it was at 29% in the previous month, Governor Jameel Ahmed underlined that a decrease in inflation is expected in January. He also stated that the current account deficit has been down to 0.7%. With $8.3 billion in foreign reserves at this point, the SBP may have improved its balance of payments.