GenzeeState Bank Holds Interest Rate at 11.5% for a Second Straight Meeting
The State Bank of Pakistan left its benchmark policy rate unchanged at 11.5% at its 27 July 2026 meeting, the second consecutive pause after a long run of rate cuts through 2025 and early 2026.
Why the central bank held steady
Headline inflation eased to 11.1% in June from 11.7% in May, helped by lower global energy prices and favourable electricity tariff adjustments. Even so, SBP Governor Jameel Ahmad said the bank chose caution over a further cut, citing global uncertainty and volatility in international oil markets. Trading Economics and local coverage noted the governor expects inflation to keep drifting toward the central bank's 5–7% target range by the end of the fiscal year.
What a steady rate means for you
A held policy rate keeps bank lending rates, credit card markups and loan pricing roughly where they have been rather than falling further in the near term. If you are weighing a loan or comparing savings options while rates stay elevated, our Loan / EMI Calculator can show you the monthly repayment at today's rates, and the Compound Interest Calculator can help you compare what a fixed deposit or savings account is actually earning you in real terms.
Note: This is a plain-language summary, not tax/financial advice. Rates and rules can change; verify your specific case with the relevant authority or a qualified professional. See our editorial policy for how we source and date these updates.