The State Bank of Pakistan (SBP) on Wednesday kept its policy rate unchanged at 11 per cent.
The benchmark rate, reduced from 22pc to 11pc through seven cuts since June 2024, was last lowered in May and held steady again on June 16.
The Pakistan Business Forum (PBF) criticised the decision, arguing that both interest and exchange rates remain “artificially high” and urging Prime Minister Shehbaz Sharif to push for corrective measures to support economic growth and stability.
The PBF noted that with inflation down to 4pc, the current rate of 11pc is unjustified. It called on the SBP to reduce the rate to at least 9pc in the upcoming monetary policy review on July 30.
