Pakistan central bank keeps interest rate at 22% amid alarming inflation surge

Mar18,2024



New Delhi: A.S. rate of inflation one reached pakistan Dangerous value of 32.89% On Friday, the Central Bank of Pakistan put its major interests on hold 22% For the sixth consecutive term.
Terming the move an effort to bring down the inflation rate to 5-7% by September 2025, the central bank said, “A cautious approach is required to bring inflation down to the target range of 5-7%.” “Requires continuation of the current monetary stance until September 2025”.
According to the Sensitive Price Indicator (SPI), the cash-starved country saw weekly inflation rise by 1.35 per cent, a significant development just two weeks after the formation of the new government.
Statistics department data shows that prices of 18 essential commodities have increased, while 14 commodities have declined, and prices of 23 products have remained unchanged.
Additionally, Pakistan has initiated discussions with the international lender regarding the final tranche of US$1.1 billion under the SBA programme, ARY News reported. It is expected that during the talks, Pakistan will demand a new deal under the 36-month Extended Fund Facility (EFF). Sources suggest that Pakistan may request a new loan program of US$6-8 billion from the IMF.



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