The State Bank of Pakistan has announced the monitory policy for the next two months and keep the policy rate of seven percent unchanged in a bid to support the economic recovery.
The decision was taken at a meeting of the Monetary Policy Committee held in Karachi today (Tuesday).
Addressing the press conference at SBP Karachi, Governor SBP Reza Baqir said that the decision to maintain the policy rate aimed to promote the industry culture. He said the country economy has improved and the inflation rate has gradually been decreased.
He said current account deficit is at its lowest level in the last 10 years. He added that the inflation rate in June was 8.9 percent.
He said the economic figures have improved due to the measures taken during Covid-19, while it was decided to continue policy support in the outbreak of Covid-19.