SBP keeps main rate unchanged at 5.75pc

SBP keeps main rate unchanged at 5.75pc

SBP keeps main rate unchanged at 5.75pc KARACHI: State Bank of Pakistan kept its key policy rate unchanged at 5.75 per cent on Saturday, citing steady remittances and low oil prices.

SBP Governor Ashrah Mahmood Wathra also told a news conference that foreign direct investment is projected to increase as work on projects under the $46 billion China Pakistan Economic Corridor (CPEC) gains momentum.

The country’s $250bn economy is growing at the fastest pace in eight years, but it has struggled to attract large-scale investment and is counting on planned CPEC roads, a deep-water port and several energy projects for a boost.

Wathra also said he expected the newly consolidated Pakistan Stock Exchange to attract new inflows in the wake of its reclassification from a frontier to an emerging market.

Source: http://www.dawn.com/news/1274231/sbp-keeps-main-rate-unchanged-at-575pc

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