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• predicts additional declines in the current account deficit due to moderate demand. Pakistan receives $4 billion from the UAE, Saudi Arabia, and Qatar.
KARACHI: In an effort to slow down the economy and manage inflation, the State Bank of Pakistan (SBP) maintained its policy rate at 15% for the next two months on Monday.
The central bank stated in its Monetary Policy Statement that “strong fiscal consolidation is planned for FY23, some temporary administrative steps have recently been taken to curtail imports, and the policy rate has been raised by a cumulative 800 basis points since last September to cool the overheating economy and contain the current account deficit (CAD).”
Given that the external position is improving, domestic demand is starting to weaken, and recent inflation trends are in line with expectations,
