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Pakistan Surprises With 125 Basis Point Hike To Curb Prices

  • State Bank of Pakistan lifts target rate to 15% from 13.75%
  • Inflation for current fiscal year seen at 18-20%: central bank
Diners outside a restaurant in Karachi.

Diners outside a restaurant in Karachi.

Photographer: Asim Hafeez/Bloomberg
Updated on

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Pakistan’s central bank raised borrowing costs more than expected to quell Asia’s second-fastest inflation and meet conditions for a loan from the International Monetary Fund.