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July 23, 2017

SBP keeps policy rate unchanged at 5.75 percent to bolster growth

KARACHI: The central bank on Saturday kept its policy rate stable at 5.75 percent for the next two months, leaving the rate unchanged since July 2016 to support growth pace and to rejuvenate weak external sector.

“Following detailed deliberation and taking into consideration the strong likelihood of continued growth momentum, contained inflation and the challenges on the external front, the Monetary Policy Committee has decided to maintain the policy rate at 5.75 percent,” State Bank of Pakistan’s (SBP) Governor Tariq Bajwa told a news conference.

He said a growing current account deficit remains a challenge for the economic stability.

 

Courtesy www.thenews.com.pk

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