When was State Bank Monitory Policy announced?

A. 5 July 2022

B. 6 July 2022

C. 7 July 2022

D. 8 July 2022

Details:

The State Bank of Pakistan (SBP) increased the key interest rate by 125 basis points, taking it to 15%. This was announced on 7 July 2022 by SBP Acting Governor Dr Murtaza Syed during a press conference held on the Monetary Policy Committee’s (MPC) decision amid expectation of further tightening due to a higher inflation outlook. The SBP’s latest move to increase the key interest rate takes it to its highest level since November 2008.

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