The State Bank of Pakistan decided through its Monetary Policy Committee to increase the Policy Rate by 125 basis points (1.25%) to 15% from 13.75%, to ‘cool the economy, reduce inflation and support the Pakistan Rupee. This level is now a 14 year high.
The SBP Acting Governor Dr. Murtaza Syed said that after 1970, global inflation is witnessing the highest growth, GDP growth is expected to be between 3-4% in FY23, inflation is expected to be between 19-20 % in FY23.
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