Pakistan, July 31 -- The State Bank of Pakistan (SBP) has decided to maintain key interest rate at 11%, surprising analysts who had expected another cut on the back of cooling inflation and the need to further push growth.

The decision was announced by SBP Governor Jameel Ahmed following the Monetary Policy Committee (MPC) meeting.

Addressing a press conference in Karachi, the SBP chief said that while inflation remained at its lowest in April, it rose slightly during May and June, driven largely by energy costs and the base effect.

The governor noted that inflation may rise moderately in the coming months due to continued pressures on energy prices.

On the external front, he said Pakistan's exports have grown by 4%, adding that a ris...