File photo. Photograph:( Zee News Network )
Pakistan's central bank raised its main policy rate by 100 basis points on Tuesday to 13.25%, citing increased inflationary pressures and a likely near-term rise in prices from higher utility costs.
The move follows this month's accord with the International Monetary Fund over a $6 billion loan package that comes with tough conditions aimed at cutting Pakistan's substantial fiscal and current account deficits and bolstering its shrinking currency reserves.
The move follows this month's accord with the International Monetary Fund over a $6 billion loan package.
