Reza Baqir Governor SBP Admitted Pakistan Economy has Slowed Down
Pakistan, Nov. 13 -- State Bank of Pakistan (SBP) Governor Reza Baqir admitted that Pakistan's economy was going through a slowdown phase.
He said this during Reza Baqir's media talks in Karachi on Tuesday. As per reports, the SBP Governor said that the foreign reserves increase last week was not due to a single factor, but because of sentiment improvement and lowering forward book liabilities.
Talking about the high-interest rate, Baqir said that higher interest rates were due to unabated inflation. "When inflation rate will plummet, we will review interest rates", he said. The governor admitted that there were some structural faults behind rising inflation, which are being addressed.
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