Dada Pota Show of 03-12-2018. The only program of business and economy in Pakistan.
Monetary Policy SBP Interest Rate US Dollar Pak Rupee Political Economy Dada Pota Show 03-12-2018
Dada Pota Show 03-12-2018 based on Monetary Policy SBP Interest Rate US Dollar Pak Rupee Political Economy.
Today, Dada G shared his opinion on important news that Monetary policy: SBP hikes key interest rate by 150 basis points to 10%.
Going beyond market expectations, the State Bank of Pakistan (SBP) on Friday increased the benchmark interest rate by 150 basis points to 10% – a six-year high level. The rate hike was very much in line with the International Monetary Fund’s (IMF) demand that Pakistan push the interest rate into double digits. “The new rate will come into effect on December 3, 2018,” the central bank announced. With the fresh revision, the central bank has raised the interest rate by a cumulative 4.25 percentage points in five rounds since January 2018. The prime objective is to make borrowing expensive in a bid to apply brakes on the accelerating inflation in the country. “Near-term challenges to Pakistan’s economy continue to persist with rising inflation, an elevated fiscal deficit and low foreign exchange reserves,” the SBP said in the Monetary Policy Statement released on Friday. Earlier, the benchmark Consumer Price Index (CPI) inflation hit a 50-month high at 6.8% in October 2018 on a year-on-year basis compared with 5.1% in September 2018, according to the Pakistan Bureau of Statistics (PBS).
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