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State Bank announces a one percent increase in interest rate

The State Bank of Pakistan (SBP) announced a one percent increase in the interest rate on Monday.

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has raised the key interest rate by 100 basis points (bps), taking it to 17%.

State Bank Governor Jameel Ahmed while announcing the monetary policy during a press conference said a one percent increase in interest rates has been made.

According to Governor State Bank, the interest rate has been increased from 16 to 17 percent.

Governor State Bank said that inflation is strong, hence, price stability is essential.

 

 

Saman Siddiqui

Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.

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