SBP hikes for first time since 2013

The State Bank of Pakistan's main rate is now at 6%

The State Bank of Pakistan has joined the growing number of central banks hiking their policy rates amid the continuing global surge in growth.

The central bank’s monetary policy committee (MPC) voted in favour of a 25 basis point hike on January 26, citing the need to “pre-empt overheating of the economy and inflation breaching its target rate”. The move brings the policy rate to 6%.

Like many central banks, the SBP has held its policy rate steady for several years. The last move was a 25

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