Pakistan's central bank in wait-and-see mode to spur growth: Governor

Pakistan’s central bank is in “wait-and-see” mode to give businesses the confidence they need to start investing again and keep people employed, Governor Reza Baqir said on Wednesday.

After reducing by 625 basis points since March, the State Bank of Pakistan this week kept its policy rate unchanged at 7 per cent. In its policy statement, the central bank said that business confidence and the growth outlook have improved as lockdowns eased due to a decline in the number of Covid cases in Pakistan.

“Our policy stance right now, to catch an idiom, is ‘steady as she goes.’ We want