SBP increases interest rate by 150bps to 13.75%

SBP increases interest rate by 150bps to 13.75%

Karachi (Web Desk): The State Bank of Pakistan (SBP) on Monday increased the benchmark policy rate by 150 basis points to 13.75 percent.

“At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 150 basis points to 13.75 percent,” the SBP said in a statement and added, “This action, together with much needed fiscal consolidation, should help moderate demand to a more sustainable pace while keeping inflation expectations anchored and containing risks toc external stability.”