KARACHI: In a surprise move on Monday, the State Bank of Pakistan (SBP) increased the benchmark interest rate by 100 basis points as the country looks forward to the completion of the ongoing International Monetary Fund (IMF) programme. The decision by the SBP’s Monetary Policy Committee (MPC) marks a cha­nge in its monetary policy stance within a couple of weeks. In the preceding mee­ting held … Continue reading SBP springs surprise interest rate hike of 100bps