Pakistan, Jan. 23 -- The central bank kept the benchmark interest rate unchanged at 7 percent on Friday, while viewing growth and inflation expectations as well-anchored, although it said Covid-19 was still posing challenges to the economic outlook.
"At its meeting on January 22, 2021, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 7 percent. The MPC noted that since the last meeting in November, the domestic recovery has gained some further traction. Most economic activity data and indicators of consumer and business sentiment have shown continued improvement. As a result, there are upside risks to the current growth projection of slightly above 2 percent in FY21," the SBP said in a statement.
Moreover, the SB...