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October 10, 2022 / Business / By

State Bank released monetary policy, interest rate kept at 15 percent

State Bank of Pakistan announced monetary policy.

According to the State Bank announcement, there has been no reduction or increase in the interest rate and the interest rate has remained at 15 percent.

The statement said that after the August meeting, economic activities have been slowing down, and inflation and current account deficit have come down.

According to the declaration, the economic scenario has changed due to the flood, the process of assessing the effects of the flood disaster is ongoing, and the monetary stance is appropriate to deal with inflation and maintain growth after the flood.

According to the State Bank, the rate and duration of inflation may remain high due to food supply problems, the economic growth prospects have been weakened due to the decrease in demand, and the deficit should also decrease due to the decrease in demand.

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