Karachi: The State Bank of Pakistan has decided to increase the policy rate by 100 basis points to 11.50 percent with effect from tomorrow. This decision was made during the meeting of the Monetary Policy Committee held in Karachi today.

According to Radio Pakistan, the committee’s monetary policy statement indicated that the rate hike is aimed at controlling inflation and maintaining economic stability. The decision reflects the central bank’s ongoing efforts to manage inflationary pressures and ensure a stable economic environment.