SBP leaves rate unchanged at 9.75pc.

Pakistan's central bank on Monday left the policy rate unchanged at 9.75 percent and strongly signaled that the era of rate hikes had come to an end, as the target of creating balance between inflation reading and economic growth had almost been achieved.

"The policy rate at 9.75 percent is appropriate," State Bank of Pakistan (SBP) Governor Reza Baqir said while unveiling the Monetary Policy Statement (MPS) for the next one and a half month at a press conference. "Now, the focus has shifted from controlling inflation to economic growth," he said. The State...