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Interest rates unchanged in new monetary policy

State Bank of Pakistan (SBP) decided to keep interest rates on hold at 13 percent for the next two months to the end of November, local TV reported Tuesday.

The decision was taken in meeting SBP’s Central Board of Directors presided over by Syed Saleem Raza.

The meeting also decided to constitute a nine-member Monetary Policy Committee comprising SBP Governor, deputy Governor Yasin Anwar, Economic Advisor Riaz Riazud Din, Executive Director Asad Qureshi and Director Monetary Policy Hamza Ali Malik.

This committee will also include the representatives of SBP Board of Directors Mirza Qamar Baig and Tariq Saeed Sehgal. While, Dr Abdul Hafeez Pasha and Shahid Kardar will be on the committee as external members.

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