Announcing the monetary policy, how many percent is the interest rate?
The State Bank of Pakistan has announced to maintain the interest rate at 22 percent.
According to ARY News, speaking to the media in Karachi, State Bank Governor Jameel Ahmed announced the continuation of monetary policy at 22 percent.
He said that the foreign exchange reserves have increased to 8.3 billion dollars, the external account situation has improved, the current account deficit is 17 billion dollars in 2022, the inflation pressure still continues.
Jameel Ahmad said that the impact of energy prices on inflation is important, inflation will remain at 23 to 25 percent this fiscal year, large scale manufacturing has increased, GDP rate will remain at 2 to 3 percent this fiscal year.
He said that there is a possibility that the price of oil and commodities in the world market will decrease, 400 billion rupees in circulating notes will decrease, our monetary policy will remain strict.
The Governor of the State Bank said that the GDP will remain better due to industrial and agricultural development, the interest rate will be reviewed again in March, the inflation rate will decrease after March, the inflation rate will decrease in coming months, and the interest rate policy will be strict