64875
SBP Keeps Rate on Hold
SBP Keeps Rate on Hold

SBP Keeps Rate on Hold

SBP Keeps Rate on Hold

State Bank of Pakistan kept its key policy rate unchanged at 5.75% on Saturday, the bank said in a statement, citing stable inflation expectations and the gathering pace of economic activity, Reuters reported. The real GDP growth in FY17 was provisionally estimated at a 10-year high of 5.3% 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.

 

Short URL : https://goo.gl/3OqhhU
  1. https://goo.gl/rmzRcr
  • https://goo.gl/vWw7DD
  • https://goo.gl/DK7eww
  • https://goo.gl/9xCOLw
  • https://goo.gl/80ZsJQ

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
South Africa GDP Shrinks
South African gross domestic product shrank 2.2% in the first...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Taxes in Italy Drive Economy Underground
Italy grew rapidly over the 20th century, and its black market...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus