The central bank of Pakistan raised its policy interest rate by 100bps to 17% on January 23rd, 2023, the highest since 1998, saying inflationary pressures are persisting and continue to be broad-based. Policymakers added that despite some moderation in November and December, inflation continues to remain elevated and core inflation has been on a rising trend for the past 10 months. Also, both the consumer and business inflation expectations have drifted upwards over the short and medium term in the latest pulse surveys. The MPC views that anchoring of inflation expectations is important to achieve the medium-term inflation target of 5-7% by December 2024 and requires coordinated monetary and fiscal policy efforts. source: State Bank of Pakistan

Interest Rate in Pakistan averaged 11.09 percent from 1992 until 2023, reaching an all time high of 19.50 percent in October of 1996 and a record low of 5.75 percent in May of 2016. This page provides - Pakistan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Pakistan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.

Interest Rate in Pakistan is expected to be 17.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Pakistan Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-10 11:50 AM 15% 15% 15%
2022-11-25 12:00 PM 16% 15% 15%
2023-01-23 11:15 AM 17% 16% 17%
2023-03-16 12:00 PM 17% 17%
2023-04-27 12:00 PM
2023-06-12 12:00 PM


Related Last Previous Unit Reference
Interest Rate 17.00 16.00 percent Jan 2023
Interbank Rate 16.81 16.53 percent Dec 2022
Money Supply M1 22804726.00 22577766.00 PKR Million Nov 2022
Money Supply M0 9224181.92 9635148.85 PKR Million Sep 2022
Money Supply M2 27386925.00 27295517.00 PKR Million Nov 2022
Money Supply M3 30817824.00 30737330.00 PKR Million Nov 2022
Loans to Private Sector 7502420.00 7044278.00 PKR Million Dec 2022
Foreign Exchange Reserves 11422.50 13378.20 USD Million Dec 2022

Pakistan Interest Rate
In Pakistan, interest rates decisions are taken by the State Bank of Pakistan. On 23rd of May, 2015 the discount ceiling rate was replaced by a new official interest rate, the SBP Policy rate.
Actual Previous Highest Lowest Dates Unit Frequency
17.00 16.00 19.50 5.75 1992 - 2023 percent Daily

News Stream
Pakistan Hikes Main Rate to 17%
The central bank of Pakistan raised its policy interest rate by 100bps to 17% on January 23rd, 2023, the highest since 1998, saying inflationary pressures are persisting and continue to be broad-based. Policymakers added that despite some moderation in November and December, inflation continues to remain elevated and core inflation has been on a rising trend for the past 10 months. Also, both the consumer and business inflation expectations have drifted upwards over the short and medium term in the latest pulse surveys. The MPC views that anchoring of inflation expectations is important to achieve the medium-term inflation target of 5-7% by December 2024 and requires coordinated monetary and fiscal policy efforts.
2023-01-23
Pakistan Raises Key Interest Rate by 100bps to 16%
The central bank of Pakistan raised its policy interest rate by 100bps to 1999-highs of 16% on November 25th 2022, after leaving borrowing costs unchanged in each of the previous two meetings, saying inflationary pressures have proven to be stronger and more persistent than expected. Higher food prices and core inflation are now expected to push average FY23 inflation up to 21-23%. Policymakers also noted that a sharp decline in imports led to a significant moderation in the current account deficit in both September and October. However, projections for growth of around 2% and current account deficit of around 3% of GDP for FY 2023 were left unchanged.
2022-11-25
Pakistan Leaves Kay Rate Steady at 15%
The central bank of Pakistan left its key policy interest rate steady at 15% on October 10th 2022, mentioning a slowdown in economic activity, a decline in inflation and the current account deficit, while noting that the recent floods have altered the macroeconomic outlook. Policymakers said GDP growth could fall to around 2% in FY23, compared to the previous forecast of 3-4% before the floods while food prices could raise inflation above the pre-flood projection of 18-20%. The impact on the current account deficit is likely to be muted, with pressures from higher food and cotton imports and lower textile exports largely offset by slower domestic demand and lower global commodity prices. Projections however, are still preliminary.
2022-10-10