Pakistan Holds Key Rate at Record High Ahead of IMF Visit
Pakistan’s central bank left its interest rate at an all-time high ahead of a scheduled visit by an International Monetary Fund mission next month to hash out a new loan program.
The State Bank of Pakistan maintained the target rate at 22%, it said in a statement on Monday, signaling a delay of the monetary easing cycle. Twenty-four out of 41 economists predicted a hold in a Bloomberg survey, with 17 seeing a cut ranging from 25 to 100 basis points.