In a major economic decision, Pakistan raises the key interest rates
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ISLAMABAD - In a major economic decision, Pakistan has raised the key interest rates to harness the economic woes.
State Bank of Pakistan increased its main interest rate by 100 basis points to 8.5 percent on Saturday, citing rising inflation and economic worries over the large fiscal and current account deficits. -
The State Bank of Pakistan said “concerns on the economic front continue to persist on the back of rising inflation and large twin deficits …(and) are likely to compromise the sustainability of the high real economic growth path”.
