Central Banks
Pakistan Keeps Rates on Hold Despite IMF Call for Tightening
- Price gains will decline significantly next year: SBP Chief
- The nation will maintain aggressive policy rate, Ahmad says
The State Bank of Pakistan in Karachi, Pakistan.
Photographer: Asim Hafeez/BloombergThis article is for subscribers only.
Pakistan’s central bank kept its benchmark rate unchanged despite the International Monetary Fund calling for further tightening to reduce price pressures.
The State Bank of Pakistan maintained the target rate at 22%, Governor Jameel Ahmad said in a press conference in Karachi on Monday. The move was seen by 17 of 39 economists in a Bloomberg survey, with 22 predicting a hike ranging from 50-100 basis points.