Karachi (Web Desk): The State Bank of Pakistan (SBP) on Tuesday announced the monitory policy for the next two months and keep the policy rate of 7% unchanged in a bid to support the economic recovery.
According to details, the decision was taken at a meeting of the Monetary Policy Committee held in Karachi.
Addressing the press conference in Karachi, Governor SBP Reza Baqir said that the decision to maintain the policy rate is to promote the industry culture.
He said that the country economy has improved and the inflation rate has gradually been decreased.
“The current account deficit is at its lowest level in the last 10 years,” Reza Baqir said, adding that the inflation rate in June was 8.9%.
He said that the economic figures have improved due to the measures taken during COVID-19, while it was decided to continue policy support in the outbreak of the coronavirus.
Reza Baqir said that SBP is going to announce new schemes for small and middle industries.