Pakistan central bank raises rate by 100 bps to 21% to rein in inflation
Pakistan's central bank raised its key interest rate by 100 basis points on Tuesday, as the cash-strapped country aims to bring down record high inflation.The key rate of the State Bank of Pakistan (SBP) now stands at 21%, its highest level ever, with consumer price inflation at its highest level recorded to date. Investors polled by Reuters had mostly expected a rate hike of 200 basis points.
Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.
