SBP governor unveils monetary policy

KARACHI (PR): Dr Shamshad Akhtar, Governor State Bank of Pakistan has said that considering the risk related to rising external current account and fiscal deficits and worsening inflation outlook, the central bank has decided to raise its policy rate by 100 basis points to 13 percent effective July 30, 2008 to contain further aggregate demand pressures which are contributing to the inflationary pressures.