76796
Pakistan Rate Unchanged
World Economy

Pakistan Rate Unchanged

The State Bank of Pakistan decided to keep the interest rate unchanged at 5.75%, according to a press release, APP reported. It said, prospects of achieving the 6% target of real GDP growth continue to be strong due to the availability of cheaper money and higher credit off-take by the private sector. The SBP said economic activity is strong as corroborated by broad-based pick-up in the industrial output, gains in factors supporting the production of major crops and growth in private-sector credit. The interest rate has been kept unchanged since May 2016. “Model-based projections for inflation and survey-based measures of inflation expectations show that in 2017-18 overall inflation is expected to remain well below the target of 6%,” said the SBP. The central bank believes that inflation is expected to fall inside the range of 4.5-5.5% projected at the start of 2017-18. The bank said healthy growth in the tax collection by the federal board of revenue during the first quarter of 2017-18, 22% compared to the modest 4.5% during the first quarter of 2016-17, is a welcome development.

 

Short URL : https://goo.gl/ZFSQBW
  1. https://goo.gl/1BUhrG
  • https://goo.gl/gQk6Tm
  • https://goo.gl/Q7K3jx
  • https://goo.gl/Fe1KhK
  • https://goo.gl/TYgBAV

You can also read ...

Big Data, Online Markets Can Lead to Higher Prices
Information technology is not just transforming markets; it is...
Liu He (L) and Steven Mnuchin after the joint statement to avoid a trade war.
With "minutes to midnight", the great US-China trade war...
Qatar March IPI Decreases Marginally
Qatar’s monthly industrial production index for March 2018...
Egypt Gets Bids for Power Plant
Egypt next week will announce the winning consortium to build...
Italy could set the stage for the bloc’s next crisis if it delivers on its tax-cutting and high-spending policies.
Capital investment in 24 of the EU’s 28 member states has...
Lanka Facing Debt Crisis
Sri Lanka is headed for a debt crisis, the finance ministry...
Air India Sale Hangs in Balance
Uncertainty hangs over the Indian government's plans to sell...
A meeting of eurozone finance ministers is set for June 21.
Greece’s creditors have agreed a program of reforms as the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus