No change expected in interest rate

No change expected in interest rate
SBP will announce benchmark interest rate for next two months today
Earlier, the State Bank of Pakistan (SBP) had cut the benchmark interest rate by an aggressive 625 basis points during March-June 2020 to the current 7%. PHOTO: FILE
KARACHI:
Pakistan’s central bank is scheduled to meet on Friday (Jan 22) to determine the benchmark interest rate for the next two-month amid a situation whereby the second wave of Covid-19 pandemic still poses risk to economic activities.
Moreover, the government has increased power tariff by Rs1.95 per unit to resume the International Monetary Fund’s (IMF) loan programme. It has also passed on hike in international oil prices on to the local consumers. The current account balance, after remaining in surplus for the previous five successive months (Jul-Nov 2020), also turned negative in December 2020. Experts, however, believe inflation is manageable.

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