Pakistan raises key rate to record 21% to curb crippling inflation
By Ariba Shahid and Asif Shahzad KARACHI, Pakistan (Reuters) -Pakistan’s central bank raised its key interest rate to a record 21% on Tuesday as the cash-strapped country bid to curb crippling food inflation and maintain the confidence of foreign creditors. The 100 basis-point (bp) increase by the State Bank of Pakistan (SBP) was less than …
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