PHOTO: FILEIn line with market expectations, Pakistan's central bank left its key policy rate unchanged at 15% for the next seven-week on Monday, as it revised down projection for economic growth to 2% for current fiscal year 2023. "The existing monetary policy stance (at 15%) strikes an appropriate balance between managing inflation and maintaining growth in the wake of the floods," State Bank of Pakistan (SBP) said in its latest monetary policy statement (MPS). 1/5 At today’s meeting, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 15 percent. See https://t.co/fbqwTNJiRR — SBP (@StateBank_Pak) October 10, 2022This is the second consecutive monetary policy statement in the past three months in which SBP has maintained the rate at 15%. "In light of these offsetting considerations, the MPC (monetary policy committee) considered it prudent to leave monetary policy settings unchanged at this stage," according to the monetary policy (MPS) statement.

Source: The Express Tribune October 11, 2022 05:33 UTC