Updated on
Summary
In its second monetary policy of the current fiscal year, State Bank of Pakistan (SBP) has raised the benchmark policy discount rate by 50bps to 13.5%, Dunya News reported on Wednesday. The policy has been announced for next two months. The bank stated that flood has badly affected the economy due to which growth rate would be 2 percent and deficit would further be increased. It is feared that volume of non-operation bank loans would be increased. Earlier, in its first monetary policy, SBP had raised interest rate by 50 basis points.
