Interest rates rose to their highest point ever recorded in the nation.

 state bank of pakistan inncrease interest rate image

The prime interest rate climbed to 21 percent for the first time in the history of the nation when the State Bank raised the interest rate by one percent.

The Monetary Policy Committee of the Central Bank met and discussed the status of the nation, according to a statement issued by the State Bank.

The interest rate was increased by 100 basis points by the Monetary Policy Committee. A 1% increase brought the policy rate to 21%.

This year, 300 basis points were added on March 2. So far in the current fiscal year, the interest rate has increased by 6.25%.

Interest Rate at Business State Bank

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