Pressure mounts on SBP for rate cut

KARACHI: Pressure is mounting on the State Bank of Pakistan (SBP) to call an emergency meeting and review the current interest rate amid a drop in inflation, according to sources in the financial sector.

Just before release of the latest inflation figures, the central bank kept the interest rate unchanged when it announced the monetary policy on April 29.

The Consumer Price Index (CPI) fell to 17.3 per cent last month, strengthening trade and industry’s clamour for a respite from a record high interest rate.