Monetary policy: The SBP maintains the status quo and keeps the interest rate at 15%.

In line with market expectations, the State Bank of Pakistan (SBP) kept the interest rate unchanged at 15%, the highest since November 2008.

The monetary policy committee (MPC), chaired by Deputy Governor Syed Murtaza, met to review economic indicators. Despite the fact that inflation is at an all-time high, the central bank has decided to keep interest rates unchanged for the next six weeks.

To control inflation and reduce the current account deficit, the central bank raised interest rates by 800 basis points from September 2021 to July 2022. However, at today’s meeting, the central bank kept the interest rate unchanged for the next six weeks.