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SBP poised to hold rate as economic headwinds persist Business March 17, 2021 KARACHI: The State Bank of Pakistan (SBP) is likely to keep its policy rate on hold this week to continue to support an economy struggling with surging coronavirus cases, and wary of increasing inflationary pressures, analysts forecast on Tuesday. The central bank left interest rates unchanged at 7 percent for a third consecutive meeting in January after slashing them five times last year by a total of 625 basis points (bps). The SBP’s Monetary Policy Committee (MPC) will meet to review rates on March 19 (Friday). A majority of analysts surveyed sees the policy rate to remain steady in the upcoming meeting in light of forward guidance given by the MPC on the monetary policy. The policymakers, in the last statement, clearly indicated to keep rates on hold in the near term until there are clear signs that the economy is recovering.

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