Tue May 23, 2017
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Business

REUTERS
May 20, 2017
Advertisement

State Bank of Pakistan keeps policy rate unchanged at 5.75

State Bank of Pakistan keeps policy rate unchanged at 5.75

KARACHI: State Bank of Pakistan kept its key policy rate unchanged at 5.75 percent on Saturday, the bank said in a statement, citing stable inflation expectations and the gathering pace of economic activity.

The real GDP growth in FY17 was provisionally estimated at a 10-year high of 5.3 percent thanks to a revival in domestic demand.

"The upbeat economic sentiments and low interest rates have encouraged the private sector to undertake capacity expansions," the statement said.

Private sector credit showed a net expansion of 503 billion rupees ($4.81 billion) during the nine months through April, well above the 334 billion rupee expansion recorded in the corresponding period of last year, the statement added.

Going forward, official inflows are expected to support foreign exchange reserves.

A sustained increase in other private inflows – foreign direct investments and export earnings in particular – is required to fully finance the surge in imports.

The statement said funds for infrastructure related to the China Pakistan Economic corridor were expected to boost foreign direct investment inflows.

($1 = 104.6400 Pakistani rupees)

Advertisement

Comments

Advertisement

In This Story

Advertisement

More on this