SBP likely to increase interest rates by 100bps

KARACHI: State Bank of Pakistan will announce the Monetary Policy statement for July and August on Tuesday, wherein market is expecting a 100bps increase.

Street consensus indicates Policy Rate to increase by 100 basis points or 1.0%.

Out of 12 analysts, eight expect Policy rate to go up by 100bps.

Out of rest four, two expect increase of 50 basis points and the other two by 75bps.

Current Policy Rate is 11.75% (Discount Rate is at 12.25%).

Since May 2018, Discount rate showed an increase of 5.75% to 12.25%.

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