The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) on Monday kept the interest rate unchanged at 11.5 per cent.
The decision was announced by SBP Governor Jameel Ahmed during a press conference.
At the outset of the press conference, the governor said, “MPC has decided to keep the policy rate unchanged”.
Analysts had expected the central bank to keep the rate unchanged, saying it would be difficult to maintain macroeconomic stability with sluggish growth.
Surveys conducted by brokerage houses show that more than 90pc of stakeholders expected the SBP to leave the policy rate unchanged, while only a small number foresaw a modest increase.
The SBP cut its policy rate by 50 basis points to 10.5pc in December 2025 before raising it by 100 basis points to 11.5pc in April this year. It has since kept the rate unchanged despite persistent demands from the business community for a substantial reduction to support economic activity.
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