KARACHI: The State Bank of Pakistan (SBP) announced its bi-monthly monetary policy on Friday and decided to maintain its policy rate at 7%, according to a statement issued by the bank.
The Monetary Policy Committee of the State Bank of Pakistan met on Friday in Karachi. The meeting was held to discuss and decide the bi-monthly monetary policy. The MPC issued a monetary policy statement after the meeting.
The State Bank of Pakistan decided to keep the interest rate unchanged.
According to the official statement, the MPC “maintained policy rate at 7%”. This is done on order to keep businesses from facing loss due to the pandemic.