Pakistan central bank hikes main policy rate by 150 bps to 13.75%

1 month ago 19

KARACHI, Pakistan : Pakistan's central bank raised the key policy rate on Monday by 150 basis points to 13.75 per cent, the second hike in less than two months.

"This action, together with much needed fiscal consolidation, should help moderate demand to a more sustainable pace while keeping inflation expectations anchored and containing risks to external stability," the State Bank of Pakistan (SBP) said in a statement.

The hike comes as the country is going through economic turmoil, including high inflation, declining reserves and a fast-weakening currency.

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