SBP announces monetary policy, increases interest rate to 13.25%

#GEOBREAKINGNEWS - SBP announces monetary policy, increases interest rate to 13.25% - 17 July 2019 | #GEONEWS
KARACHI: Governor State Bank of Pakistan (SBP) Raza Baqir on Tuesday announced the monetary policy.

The policy rate was raised by 100 basis points to 13.25%.

The move follows this month’s accord with the International Monetary Fund over a $6 billion loan package that comes with tough conditions aimed at cutting Pakistan’s substantial fiscal and current account deficits and bolstering its shrinking currency reserves.



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