News

SBP decides to maintain interest rate at 22%

By News Desk

January 29, 2024 04:53 PM


Twitter Share Facebook Share WhatsApp Share

State Bank of Pakistan (SBP) Governor Jameel Ahmed announced that the State Bank Monetary Policy Committee has decided not to change the interest rate and to maintain it at 22 per cent.
SBP Governor Jameel Ahmad and the monetary policy committee members held a joint press conference and informed the media persons about the financial statistics of the country.
He said in an important economic assessment of the committee, that there has been a significant improvement in the foreign exchange reserves and in the last six months, the foreign exchange reserves have exceeded 8 billion dollars.
He added that the foreign exchange also saw an increase of four billion dollars despite paying the external debt and other payments.
The SBP governor said the current account deficit was 17.50 billion dollars last financial year. He said the committee also focused on various projections after reviewing the economic statistics.
He said the productivity of the industry is improving now and economic activities have been taken positively by the industry.
SBP Governor Jameel also said that the inflation rate will be between 23 and 25 per cent at the end of this financial year.
Jameel Ahmed said that economic growth is expected to be 2 to 3 per cent this fiscal year.
The next meeting of the Monetary Policy Committee of the State Bank will be held on March 18, 2024, as per the annual schedule.

Reporter: Ashraf Khan


News Desk


Most Read

  1. Public Holiday announced in Lahore tomorrow Public Holiday announced in Lahore tomorrow
  2. Nazish Jahangir to hit any marriage proposal from Babar Azam out of the ground Nazish Jahangir to hit any marriage proposal from Babar Azam out of the ground
  3. Iranian First Lady visits Numl Iranian First Lady visits Numl
  4. Madiha Rizvi ties the knot again Madiha Rizvi ties the knot again
  5. Pakistan, Iran sign raft of accords to bolster bilateral cooperation Pakistan, Iran sign raft of accords to bolster bilateral cooperation
  6. Two patients die, injuries of 12 others multiplied after roof collapse at Gujrat hospital Two patients die, injuries of 12 others multiplied after roof collapse at Gujrat hospital

Opinion

  1. Islamabad becoming the hub of international diplomacy
    Islamabad becoming the hub of international diplomacy

    By Salim Bokhari

  2. Insights into the Pakistan Stock Exchange's Recent Record High Triumph
    Insights into the Pakistan Stock Exchange's Recent Record High Triumph

    By Zulfiqar Ali Mir

  3. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  4. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  5. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  6. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay