Interest rates

This is with reference to a news item in Business Recorder of 27th January, showing 80% of experts have opined that the SBP will increase rates by 50bps on 29th January. India has increased its rate five times consecutively: now its rate stands at 5.5. Although, the US, the UK and Japan often contemplate raising interest rates, they continue to delay such step.
More importantly, food inflation can be controlled only by increasing its supply. In fact, the SBP policy of increasing rates has contributed to food inflation.
Bottom line: concentrate on solid policies - what we require is reduction of interest rates to single digits. Shahid H. Kardar himself used to be a vocal advocate of a lower interest rate policy.