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Central Banks

Pakistan Keeps Key Rate Steady Amid Easing Funding Crunch

  • Nation expects IMF board to approve $1.2b tranche on Aug 29
  • See FX reserves rising to around $16 billion duriing FY23: SBP
Updated on

Pakistan’s central bank left its policy rate unchanged amid signs the nation may be drawing close to an International Monetary Fund loan approval.

State Bank of Pakistan kept its benchmark target rate at 15% on Monday, a decision predicted by most economists in a Bloomberg survey. Only seven of 37 economists expected a rate hike, with forecasts ranging from 50 basis points to 150 basis points.