Islamabad: The State Bank of Pakistan (SBP) on Thursday (today) increased interest rate by 2.5 percent.
1/3 In an emergency meeting today, MPC decided to raise policy rate by 250bps to 12.25%. This strong and proactive policy response was necessitated by a deterioration in outlook for inflation and increase in risks to external stability since last meeting. https://t.co/VSRwxRQJhY— SBP (@StateBank_Pak) April 7, 2022
The SBP raise the interest rate in the hurriedly called meeting in which a monetary policy has also been announced.
According to the SBP basic interest rate has reached 12.25 while inflation scenario has further been disturbed after previous meeting of MPC.
The SBP added that risk to outer stability has increased.