SBP has raised its key policy rate by . percentage points since April mainly to curb soaring inflation . The announcement was made by SBP Governor Jameel Ahmed after a meeting of the banks Monetary Policy Committee MPC . SBP held rates steady in June saying inflation had peaked at .
pc in the preceding month . But before Junes end it raised rates by bps at an emergency meeting citing a slightly deteriorated inflation outlook . In the coming months inflation will start steadily declining . From July to December the inflation rate will gradually decrease but we will see a steady decline from January to June .
Ultimately the committee assessed that we are on track to bring inflation to . pc by the end of the SBP governor added . He further said that economic growth was also discussed in the MPC meeting today and growth was expected to stay between pc and pc in fiscal year in FY 2013 .
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