I would recommend that our interest rate/policy rate ought to be brought down to 8.0 per cent with a floor of 7.0-7.5 per cent, depending on the current inflation rate.
Once we reach 7.0 to 8.0 per cent, we ought to stabilise the ‘policy rate’ at this level for two quarters or more, so that the experts are able to gauge the economy’s exact health and direction at that time.
Abbas R Siddiqi
Lahore
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