The key rate of the State Bank of Pakistan (SBP) now stands at 21%
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Pakistan's central bank raised its key interest rate by 100 basis points on Tuesday, as the cash-strapped country aims to bring down record high inflation.
The key rate of the State Bank of Pakistan (SBP) now stands at 21%, its highest level ever, with consumer price inflation at its highest level recorded to date. Investors polled by Reuters had mostly expected a rate hike of 200 basis points. (Reporting by Ariba Shahid in Karachi; Editing by Anderew Heavens)
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