Pakistan holds as inflation remains well above target
MPC reiterates need for fiscal reforms to support growth
The State Bank of Pakistan (SBP) kept its policy rate unchanged at 11.5% on July 27, in line with market expectations. The monetary policy committee (MPC) had also held rates at its previous meeting in July, having raised the policy rate by 100 basis points in April. The MPC’s statement said the macroeconomic outlook had improved since its June meeting, but warned of heightened risks following renewed hostilities in the Middle East.
Headline inflation eased to 11.1% in June from 11.7% the
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