{"id":27314,"date":"2012-02-11T17:59:00","date_gmt":"2012-02-11T22:59:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/02\/11\/pakistan-central-bank-holds-interest-rate-at-12-00\/"},"modified":"2012-02-11T17:59:00","modified_gmt":"2012-02-11T22:59:00","slug":"pakistan-central-bank-holds-interest-rate-at-12-00","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/02\/11\/pakistan-central-bank-holds-interest-rate-at-12-00\/","title":{"rendered":"Pakistan Central Bank Holds Interest Rate at 12.00%"},"content":{"rendered":"<div align=\"right\">\ntweetmeme_style = &#8216;compact&#8217;;<\/p>\n<\/div>\n<p><span>The&nbsp;<a href=\"http:\/\/www.sbp.org.pk\/\">State Bank of Pakistan<\/a>&nbsp;maintained its discount rate unchanged at 12.00%.&nbsp; The Bank&nbsp;said: &#8220;<\/span><span>In conclusion, despite moderate aggregate demand, pressure on rupee liquidity is likely to continue due to uncertain foreign inflows and substantial government borrowings to finance the fiscal deficit. Moreover, inflationary pressures&nbsp;<\/span><span><span><span>have not eased significantly. It must be emphasized that sustainable economic recovery over the medium term would call for a&nbsp;sizable&nbsp;increase in both the domestic and foreign private investment in the economy. For this to happen, the business confidence needs to be revived by reducing uncertainties due to energy shortages.&#8221;<\/span><\/span><\/span><br \/><a name='more'><\/a><\/p>\n<div><a href=\"http:\/\/www.centralbanknews.info\/\" name=\"more\"><\/a><span>Pakistan&#8217;s central bank last <a href=\"http:\/\/www.centralbanknews.info\/2011\/10\/state-bank-of-pakistan-cuts-rate-150bps.html\">cut the discount rate<\/a> by 150 basis points in October last year, and 50 basis points to 13.50% at its July meeting. &nbsp;Pakistan reported annual&nbsp;<\/span>inflation<span>&nbsp;of 10.1% in January, compared to 10.46% in September, 11.56% in August, 13.77% in July, 13.92% in June, 13.23% in May, and 13.04% in April<\/span><span>. &nbsp;The Pakistani government previously announced an inflation target of 12 percent for fiscal 2012, with a desired path for inflation of 9.5% and 8% in the subsequent 2 years. &nbsp;<\/span><\/p>\n<div>The Pakistani Rupee (PKR) has depreciated about 7% against the US dollar over the past year, and the USDPKR exchange rate last traded around 90.8. &nbsp;The Karachi Stock Exchange KSE100 Index is up 8.7% over the past year, last trading around 12,232.<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\" target=\"_blank\">www.CentralBankNews.info<\/a><\/div>\n<\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-465639737371929949?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>tweetmeme_style = &#8216;compact&#8217;; The&nbsp;State Bank of Pakistan&nbsp;maintained its discount rate unchanged at 12.00%.&nbsp; The Bank&nbsp;said: &#8220;In conclusion, despite moderate aggregate demand, pressure on rupee liquidity is likely to continue due to uncertain foreign inflows and substantial government borrowings to finance the fiscal deficit. Moreover, inflationary pressures&nbsp;have not eased significantly. It must be emphasized that sustainable &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/02\/11\/pakistan-central-bank-holds-interest-rate-at-12-00\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pakistan Central Bank Holds Interest Rate at 12.00%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-27314","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=27314"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27314\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=27314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=27314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=27314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}