Pakistan holds interest rate ahead of IMF loan review

Central bank says inflation remains high even after dropping in March

The State Bank of Pakistan
Photo: SBP/Abbas Ali Khan

Pakistan’s central bank held its policy rate unchanged at 22% today (April 29) for the seventh consecutive time.

The State Bank of Pakistan (SBP) said although the country’s economy is recovering slightly, inflation remains high. It warned that foreign exchange reserves needed to be strengthened from their current low level.

Pakistan’s year-on-year inflation dropped to 20.7% in March from 23.1% in February, while core inflation fell to 15.7% from 18.1% over the same period. This nonetheless

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