{"id":63982,"date":"2022-11-26T08:30:41","date_gmt":"2022-11-26T03:30:41","guid":{"rendered":"https:\/\/pni.net.pk\/en\/?p=63982"},"modified":"2022-11-26T02:03:19","modified_gmt":"2022-11-25T21:03:19","slug":"sbp-increases-policy-rate-to-16-pc","status":"publish","type":"post","link":"https:\/\/pni.net.pk\/en\/latest-business-news\/sbp-increases-policy-rate-to-16-pc\/","title":{"rendered":"SBP increases policy rate to 16 pc"},"content":{"rendered":"<p>ISLAMABAD \u2013 November 25 (ONLINE) State Bank of Pakistan (SBP) on Friday announced the interest rate has been increased by 100 basis points (bps) to 16 per cent to curb inflation.<\/p>\n<p>After a meeting of its Monetary Policy Committee (MPC), the SBP announced on Friday that decision was aimed at ensuring that \u201celevated inflation does not become entrenched and that risks to financial stability are contained, thus paving the way for higher growth on a more sustainable basis\u201d.<\/p>\n<p>\u201cAt today\u2019s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 100 basis points to 16%,\u201d the bank announced via its official Twitter handle.<\/p>\n<p>\u201cThis decision is aimed at ensuring that elevated inflation does not become entrenched &#038; that risks to financial stability are contained, thus paving the way for higher growth on a more sustainable basis. Higher food &#038; core inflation are key contributors to elevated inflation,\u201d a subsequent tweet added.<\/p>\n<p>\u201cAfter incorporating the Post-Disaster Needs Assessment of the floods and latest developments, the FY23 projections for growth of around 2% and a current account deficit of around 3% of GDP shared in the last monetary policy statement are re-affirmed,\u201d it concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD \u2013 November 25 (ONLINE) State Bank of Pakistan (SBP) on Friday announced the interest rate has been increased by 100 basis points (bps) to 16 per cent to curb inflation. After a meeting of its Monetary Policy Committee (MPC), the SBP announced on Friday [&#8230;]<\/p>\n<p>\n","protected":false},"author":2,"featured_media":63983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-63982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP increases policy rate to 16 pc<\/title>\n<meta name=\"description\" content=\"SBP increases policy rate to 16 pc\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pni.net.pk\/en\/latest-business-news\/sbp-increases-policy-rate-to-16-pc\/\" \/>\n<meta name=\"twitter:card\" 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