KARACHI, March 2 — Pakistan’s central bank raised its key interest rate by 300 basis points on Thursday, exceeding investor expectations, as the cash-strapped country attempts to encourage the International Monetary Fund to release critical funding.
In its last policy meeting in January the bank raised the rate by 100 bps to 17 per cent. It has now raised rates by a total of 1025 bps since January 2022. “In this context, the MPC emphasized that anchoring inflation expectations is critical and warrants a strong policy response.”
Source: Loan Digest (loandigest.net)
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