{"id":95812,"date":"2023-12-13T14:29:33","date_gmt":"2023-12-13T09:29:33","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=95812"},"modified":"2023-12-14T12:37:21","modified_gmt":"2023-12-14T07:37:21","slug":"sbp-holds-interest-rate-at-22","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-holds-interest-rate-at-22.html","title":{"rendered":"SBP\u2019s key interest rate remains same amid economic challenges"},"content":{"rendered":"\n<p>Islamabad: The State Bank of Pakistan (SBP) opted to keep the key interest rate steady at a historic 22% during its fourth consecutive meeting on Tuesday, as claimed by a news source on December 13.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbp-notifies-citizens-accounts-safety.html\">SBP <\/a><a href=\"https:\/\/www.zameen.com\/news\/sbp-notifies-citizens-accounts-safety.html\" target=\"_blank\" rel=\"noreferrer noopener\">shares details on no. of safe bank accounts, protected deposit limit<\/a><\/p>\n\n\n\n<p>According to the details, the decision reflects the bank\u2019s anticipation of a noteworthy decline in inflation during the latter half of the fiscal year. Despite a surge in November\u2019s inflation figures, most independent economists and analysts had predicted the central bank would maintain the current interest rate. The Monetary Policy Committee (MPC) acknowledged the impact of last month\u2019s rise in gas prices.<\/p>\n\n\n\n<p>The SBP had previously raised the policy rate to 22% in an off-cycle meeting on June 26, as a final effort to secure a USD 3 billion bailout from the International Monetary Fund (IMF) within the framework of a reform program aimed at stabilizing the economy.<\/p>\n\n\n\n<p>The Pakistani economy has grappled with persistent high price pressures, with monthly consumer price index-based inflation remaining above 20% since June 2022, peaking at a record 38% in May this year. Despite assurances from both the SBP and the IMF regarding an anticipated easing of inflation in the current financial year, November witnessed inflation at 29.2% after the government raised energy prices to meet reform targets. <\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/steel-industry-lower-interest-rates.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP urged to lower interest rates to support steel industry<\/a><\/p>\n\n\n\n<p>The Central Bank emphasised that the current monetary policy stance is deemed appropriate to achieve the inflation target of 5% to 7% by the end of the fiscal year 2024-25. Additionally, the SBP projected a moderate recovery in real GDP for the current fiscal year, with the first-quarter estimates indicating a year-on-year growth of 2.1%, compared to 1% a year ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The State Bank of Pakistan (SBP) opted to keep the key interest rate steady at a historic 22% during its fourth consecutive meeting on Tuesday, as claimed by a news source on December 13. Read: SBP shares details on no. of safe bank accounts, protected deposit limit According to the details, the decision reflects the bank\u2019s anticipation of a noteworthy decline in inflation during the latter half of the fiscal year. Despite a surge in November\u2019s inflation figures, most independent economists and analysts had predicted the central bank would maintain the current interest rate. The Monetary Policy Committee (MPC) acknowledged the impact of last month\u2019s rise in gas prices. The SBP had previously raised the policy rate to 22% in an off-cycle meeting on June 26, as a final effort to secure a USD 3 billion bailout from the International Monetary Fund (IMF) within the framework of a reform program aimed at stabilizing the economy. The Pakistani economy has grappled with persistent high price pressures, with monthly consumer price index-based inflation remaining above 20% since June 2022, peaking at a record 38% in May this year. Despite assurances from both the SBP and the IMF regarding an anticipated easing&hellip;<\/p>\n","protected":false},"author":88,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[55057,21853],"persona":[],"class_list":{"0":"post-95812","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-sbp-news-and-updates","9":"tag-state-bank-of-pakistan-sbp","10":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP Holds Interest Rate at 22% - Zameen News<\/title>\n<meta name=\"description\" content=\"Stay informed on Pakistan&#039;s economic landscape as the SBP maintains a historic 22% key interest rate in its fourth consecutive meeting.\" \/>\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-holds-interest-rate-at-22.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP Holds Interest Rate at 22% - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Stay informed on Pakistan&#039;s economic landscape as the SBP maintains a historic 22% key interest rate in its fourth consecutive meeting.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-holds-interest-rate-at-22.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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