Stock market has recently suffered losses amid fading hopes of reduction in borrowing costs
KARACHI – The State Bank of Pakistan is widely expected to hold its key interest rate at a record 22 per cent for the sixth straight policy meeting on Monday, as inflation risks continue to loom, but a majority of analysts expect rate cuts from the second quarter of this year.
Pakistan's key policy rate was last raised in June to fight persistent inflationary pressures and to meet one of the conditions set by the IMF for securing the bailout. "Several inflationary risks loom large, including the potential implementation of sales tax on petroleum products, heightened food inflation during Ramazan, and the prospect of entering a new IMF programme," Saad Hanif, deputy head of research at Ismail Iqbal Securities, said.In January, the central bank raised the average inflation forecast for the fiscal year ending in June to 23pc-25pc, from a previous projection of 20pc-22pc, due to rising gas and electricity prices.
Finance Minister Muhammad Aurangzeb during a recent interview with a local media outlet said: "I do think during the course of this year, we will see the rates coming down".
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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