Islamabad September 20 (Online): State Bank of Pakistan has announced to increase the Policy Rate by (7 to 7.25) percent for the next two months.
The Monitory Policy Committee of the Bank said on Monday that the economic recovery which has exceeded expectations and is coupled with higher international commodity prices and leading to a strong pick up in imports and rise in current account deficit.
The Committee noted that accommodative financial conditions have provided significant support to the growth recovery during the last three months.
It was also noted that inflation fell from nine point seven per cent to eight point four per cent.
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