SBP keeps the interest rate at 11%
Pakistan’s state bank (SBP) announced on Tuesday that it would maintain a policy interest rate at 11%, reporting steady inflation and signs of economic improvement. SBP Governor Jameel Ahmed said inflation is 7.2%today, with a slight increase observed in May and June. The average inflation rate for the latest use was 4.5%. Food inflation and core inflation saw reductions last year, although basic inflation is expected to increase again in the coming months. Exports have increased moderately, increasing by 4%, and remittances have increased by $ 8 billion, supporting the country’s external account surplus for the first time in 14
