State Bank of Pakistan Raises Policy Discount Rate to 13.5% from 13.0%
September 29, 2010
Today’s 50-basis point tightening of Pakistani monetary policy follows an initial rate hike of similar magnitude near end-July. No other rate changes have been made in 2010, and a cut of 50 bps was implemented last November. Catastrophic flooding has aggravated Pakistan’s pre-existing inflation problem. Consumer prices rose 2.5% on month and 13.2% on year in August. A statement from the central bank identified rising inflation as the reason for the latest rate advance.
Copyright Larry Greenberg 2010. All rights reserved. No secondary distribution without express permission.
Tags: Pakistan
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