KARACHI: The State Bank of Pakistan (SBP) on Monday kept the policy rate unchanged at 11.5 percent.
According to financial surveys, 49 percent of participants believe that the central bank will keep the interest rate unchanged in the upcoming monetary policy. The same proportion, 49 percent, also expect that the State Bank may increase the interest rate in the new policy announcement.
The survey further shows that 34 percent of respondents expect the Monetary Policy Committee to raise the interest rate by 50 basis points, while 15 percent believe that the increase could be as high as 100 basis points. However, 2 percent of participants expect a possible cut in the interest rate.
Market observers suggest that easing global oil prices, controlled inflation trends, and stability in the rupee may support the central bank in maintaining the interest rate at 11.5 percent.
