State Bank hikes interest rate to 9.75%

By: 24 News
Published: 05:03 PM, 14 Dec, 2021
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The State Bank of Pakistan has increased its policy rate by 1%. With this increase the interest rate has jumped from 8.75% to 9.75%, reported 24NewsHD TV Channel.

The central bank announced its monetary policy on Tuesday and increased the benchmark interest rate by 100 basis points to 9.75%. 

The market was already expecting the hike keeping in view the ever-rising import bill and trade and current account deficits.

 Reporter Ashraf Khan