State Bank of Pakistan has increased 0.25 percent in interest rate, the new rate has been set up by 10.25 percent, the new rate interest will be applied on February 1. Governor State Bank announced the monetary policy that 73 billion rupees were taken from the State Bank on the basis of budget deficit. The financial deficit is lower than before. In the first quarter, the current account deficit was 4.4 percent. However, the rate of inflation has risen. At the global level, the increase in crude oil prices increased inflation. The increase in inflation has increased 0.25 percent in the interest rate. Production of large crops has also declined. The new rate has been set up 10.25 percent. New interest rate will be applied on February 1st.
The Governor State Bank said that IMF has its own requirements, the IMF will go to terms of ability. Clearly, the previous quarterly report of the previous Rose Bank of the financial year 2019 has remained uncomfortable in the first quarter, which reflects the initial data. The main concern was the rise in global prices of crude oil, not only in the economy due to the pre-existing influx of inflation, but also overtaken the impact of the improvement in the external sector.