The State Bank of Pakistan SBP increased its benchmark interest rate by 150 basis points to a high to12.25 percent, effective from May 21, 2019.
Pakistan has reached at an agreement with (IMF) the International Monetary Fund for a long period Extended Fund Facility of around US$ 6.0 billion
The State Bank of Pakistan noted that further policy processes are required to address the inflationary pressures and core inflation yield. Economic growth was expected to slow in fiscal year 2019 and would rise in year 2020.
Experts believe that some gradual recovery in economic activities is expected based on improved market outlooks in the occurrence of the International Monetary Fund supporting program.