MPC votes 9-1 as SBP lifts policy rate to 12 percent
The SBP interest rate in Pakistan is now 12% after a 50-basis-point rise on Monday, as Governor Jameel Ahmed pointed to inflation and energy-price risks.
The State Bank of Pakistan raised the policy rate by 50 basis points to 12% on Monday.
Governor Jameel Ahmed linked the move mainly to the inflation outlook, energy and oil prices, and domestic market conditions.
Nine of ten Monetary Policy Committee members voted for the increase; one favoured a larger rise.
The rate had stood at 11.5% after being held steady since a 100-basis-point increase in April.
Brokerage Topline Securities said the decision matched its expectations.