SBP announced monetary policy rate of 9.75%

The State Bank of Paksitan has decided to maintain the monetary policy rate of 9.75% for the next two months.

Announcing the monetary policy rate in Karachi on Monday, Governor State Bank Baqir Raza told media men that the government has taken several steps to reduce inflation and ensure sustainable development.

He said the economic progress is stable and the inflation is reducing.

The Governor State Bank said that the inflation in fiscal year July to December 2021 remained at 9.8%.

He said that there was no increase in inflation in November and December 2021.

Baqir Raza said that they recorded a 1.93 billion dollars current account deficit in December 2021.