Will interest rates rise further or not? The Governor SBP said

SBP Governor Raza Baqir has said that no further increase in interest rates will be made in the country at present.

In an interview with Bloomberg, he said that despite the rise in interest rates, the country’s growth rate is expected to remain at 5% this fiscal year.

According to Bloomberg, Pakistan has one of the highest inflation rates in the region, with the rupee depreciating the most among 13 Asian currencies in the last six months.

“We do not want to delay and we are trying to ensure that inflation expectations remain encouraging, which is why we have raised interest rates by a total of 275 basis points since September,” the SBP governor said in an interview. ۔

Raza Baqir said that we have also hinted at the future in the statement of monetary policy that now we can take a break, we are going to take a break to assess the impact of the steps taken earlier. ۔

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