SBP Maintains Key Interest Rate at 5.75 Percent
MG News | July 22, 2017 at 02:05 PM GMT+05:00
The SBP MPC has kept the Target Rate at 5.75 Percent.
Key points from the governers statement were
- Headline Inflation to be Lower than 6 percent
- Inflation in FY18 to be between 4.5 to 5.5 percent on crude oil prices
- Credit Offtake to remain higher
- Current Account Deficit will be manageable
- Remittances to be within target
- LSM growth to be higher in June to May period
- Current Account deficit reaches 12 billion in FY17
- Exports were lower, but Imports were higher on CPEC and non CPEC products
- FY17 SBP Reserves down 2 Billion to 16 Billion
- Exports likely to grow in FY18
- Infection Ratio of loans of corporate sector at their lowest
- Over all growth at a 10 Year high
- LSM to grow by 5.3 Percent in FY17
- Growth witnessed in Real Sector
- Report on devaluation of Rupee to be completed and Submitted to Finance Ministry by Next Week
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