Pakistan maintains key interest rate
Edited By WION Video Desk
Published: Sep 15, 2023, 07:05 IST | Updated: Sep 15, 2023, 07:05 IST
Pakistan held its discount rate steady for a second consecutive meeting, surprising market watchers who forecast more price increases. State Bank of Pakistan governor Jameel Ahmad said that the target rate is consistent with international monetary fund criteria for a tighter policy in advance of a loan programme review scheduled for November. Since January, Pakistan's monetary officials have pledged to hike rates by a total of 600 basis points in exchange for the country receiving 3 billion dollars in rescue funds. In a statement released on Thursday, the central bank confirmed that the target rate will remain unchanged at 22%.
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