SBP maintains key interest rate at 12%

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) on Monday decided to keep the policy rate unchanged at 12%.

In its announcement, the MPC stated, “At its meeting today, the committee decided to keep the policy rate unchanged at 12 percent.”

Earlier, on January 27, the MPC had reduced the key policy rate by 100 basis points to 12%.

Market analysts largely anticipated the central bank to maintain its monetary easing stance as the declining inflation rate has fueled expectations of a seventh consecutive rate cut.

More to follow…