Pakistan adopts wait-and-see tack despite high inflation


The State Bank of Pakistan defied expectations of a rate hike on Saturday, keeping the policy rate flat even as inflation, which the central bank has blamed Islamabad for, remains stubbornly high.

Inflation, at 15.5% in December last year – 0.2 percentage points lower than the figure registered in September – is high, the central bank acknowledged. "To bring inflation under control, the critical measures would be fiscal consolidation and reduction in the fiscal deficit, and government borrowings

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