Pakistan’s central bank keeps key rate at 11.5% — Dawn
In Pakistan, the Monetary Policy Committee of the State Bank of Pakistan on Monday kept the key interest rate at 11.5%. The decision means that the regulator did not change the current rate level, Dawn reports.
Market expectations
Bankers expected the central bank to keep the rate unchanged. At the same time, some analysts forecast that the regulator could raise it by 50 points.
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The decision was made amid ongoing tensions in the Middle East. According to the publication, this situation is contributing to rising global oil prices and fueling inflation.
Previous increase
On April 27, the State Bank of Pakistan raised the key rate by 100 basis points, to 11.5%. At the time, the central bank explained the move by rising global energy prices and risks to supply chains.
