SBP announces monetary policy, hikes interest rate to 10.25%

ISLAMABAD: The State Bank of Pakistan (SBP) on Thursday announced the monetary policy, increased the interest rate by 25 basis points to 10.25 per cent.

The policy was announced by SBP Governor Tariq Bajwa following a meeting of the Monetary Policy Committee.

During the news conference, Bajwa hoped Pakistani exports would grow, adding that there was a high current account deficit in the country.

"The fiscal deficit continues to be high, we have to bring the fiscal deficit and the current account deficit down for the economy to be stable," Bajwa said.

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