{"id":81635,"date":"2021-11-22T15:35:59","date_gmt":"2021-11-22T10:35:59","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=81635"},"modified":"2021-11-22T15:36:05","modified_gmt":"2021-11-22T10:36:05","slug":"sbp-policy-rate-up-150-base-points-8-75","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-policy-rate-up-150-base-points-8-75.html","title":{"rendered":"SBP revises policy rate up by 150 base points to 8.75%"},"content":{"rendered":"\n

Karachi: The State Bank of Pakistan (SBP) on Friday (November 19) hiked its benchmark interest rate by 150 basis points to 8.75% from 7.25% at an earlier-than-expected Monetary Policy Committee (MPC) meeting, news sources reported. The meeting was scheduled to take place on November 26 (Friday)<\/a> but was convened earlier \u2018to normalise monetary policy to counter inflationary pressures and preserve stability with growth\u2019.\u00a0<\/p>\n\n\n\n

Read:<\/strong> Govt, IMF reach staff-level agreement for revival of Extended Fund Facility<\/a><\/p>\n\n\n\n

According to sources, the MPC statement stated that the policy rate change is in reaction to the rising inflation rate experienced in recent months, as well as higher energy and core inflation rates.\u00a0As per the statement, the policy rate change will relieve pressure on the local currency while also helping to reduce the current account deficit (CAD<\/a>), which has climbed to USD 3.4 billion in the first quarter of the Fiscal Year (FY) 2021-22. <\/p>\n\n\n\n

Read:<\/strong> SBP launches online regulatory portal to enhance digitisation, green banking<\/a><\/p>\n\n\n\n

Earlier, the central bank held an MPC in September, during which it raised the policy rate by 25 basis points to 7.25%<\/a> from the previously maintained 7%.\u00a0 According to news sources, prior to the latest MPC, financial analysts predicted a change in the policy rate, but the adjustment in the policy rate by 150 basis points was unexpected.<\/p>\n","protected":false},"excerpt":{"rendered":"

Karachi: The State Bank of Pakistan (SBP) on Friday (November 19) hiked its benchmark interest rate by 150 basis points to 8.75% from 7.25% at an earlier-than-expected Monetary Policy Committee (MPC) meeting, news sources reported. The meeting was scheduled to take place on November 26 (Friday) but was convened earlier \u2018to normalise monetary policy to counter inflationary pressures and preserve stability with growth\u2019.\u00a0 Read: Govt, IMF reach staff-level agreement for revival of Extended Fund Facility According to sources, the MPC statement stated that the policy rate change is in reaction to the rising inflation rate experienced in recent months, as well as higher energy and core inflation rates.\u00a0As per the statement, the policy rate change will relieve pressure on the local currency while also helping to reduce the current account deficit (CAD), which has climbed to USD 3.4 billion in the first quarter of the Fiscal Year (FY) 2021-22. Read: SBP launches online regulatory portal to enhance digitisation, green banking Earlier, the central bank held an MPC in September, during which it raised the policy rate by 25 basis points to 7.25% from the previously maintained 7%.\u00a0 According to news sources, prior to the latest MPC, financial analysts predicted a…<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[49653,28972,49652],"persona":[],"class_list":{"0":"post-81635","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-monetary-policy-november-2021","9":"tag-sbp-monetary-policy","10":"tag-sbp-revises-policy-rate-up-by-150-base-points-to-8-75","11":"cat-15017-id"},"acf":[],"yoast_head":"\nSBP revises policy rate up by 150 base points to 8.75% - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Friday (November 19) hiked its benchmark interest rate by 150 basis points to 8.75% from 7.25% at an\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-policy-rate-up-150-base-points-8-75.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP revises policy rate up by 150 base points to 8.75% - 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