Islamabad (Staff Report): The State Bank of Pakistan (SBP) on Thursday announced the monetary policy for the next two months.
The interest rate has been increased by 25 basis points to reach 10.25 percent.
SBP Governor Tariq Bajwa announced the policy in a press conference.
"The fiscal deficit continues to be high, we have to bring the fiscal deficit and the current account deficit down for the economy to be stable," the SBP governor said.
Bajwa hoped Pakistani exports would grow, adding that there was a high current account deficit in the country.