Still in stabilisation mode

The State Bank of Pakistan’s (SBP) decision to raise the policy rate by 100 basis points to 11.5 per cent is an unmistakable signal: there is a clear preference for stability over economic growth; discipline over expansion. In a climate already weighed down by structural fragilities, monetary tightening has become the chosen instrument of restraint, especially since April inflation hit double digits for the first time in 21 months to clock in at 10.9pc. This stance is reinforced across the yi...

By none@none.com (Mohiuddin Aazim)