March 30, 2023
Banking Pakistan

Pakistan’s Central Bank Puts Forward Key Procedure Rate By 300 Bps To Elevated Status Since 1996

The Sbp on Thursday lifted up the key policy rate by 300 bps to 20% as the nation fights the increased inflation in almost 50 years. Retail inflation in country hopped 31.5% in February YoY, the elevated annual rate in almost 50 years, as nutrition, liquid and vehicle prices streamed more than 45%.

Investors had anticipated the state bank of Pakistan to put forward its key policy rate by 200 rationale points in this off-cycle conference. The key rate of the State Bank of Pakistan now is placed at 20%, its elevated level since October 1996.

In its previous procedure conference in January the bank put forward the rate by 100 bps to 17%. It has now boosted rates by an aggregate of 1,025 bps since January 2022.

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