The rate may go up by 100 base points
ISLAMABAD: The State Bank of Pakistan’s Monetary Policy Committee is scheduled to convene on Thursday. There is a possibility of another interest rate hike resulting from this meeting.
Today, the Monetary Policy Committee of the State Bank of Pakistan will convene to assess the interest rate, with expectations of a potential 100 base point increase. The interest rate currently stands at 22%. It has been the highest in the country’s history, and it has remained at this level since June 26.
Experts suggest the rate might see an uptick to 23%.
The SBP announced the meeting on Tuesday, stating that they will communicate the rate decision through a press release.
Earlier, on August 31, there were reports suggesting the possibility of an emergency meeting to raise the interest rate to 25%. However, the SBP dismissed these reports, asserting that deliberations would occur as per the routine schedule in September.
The control of the interest rate is a vital tool that the SBP employs to manage spending within the economy.
US Calls For Free, Fair And Timely Elections Under Pakistani Laws
Meanwhile, during a press briefing on Wednesday, State Department spokesman Matthew Miller emphasized that the US is urging the Pakistani government to uphold human rights and fundamental freedoms.
Miller said, “As we do with countries around the world, we urge Pakistan to hold free, fair, and timely elections, and to respect human rights and fundamental freedoms and the rule of law.
He also emphasized the importance of conducting elections in accordance with Pakistan’s laws
