iPhone | iPad
Android
Huawei
As part of Operation Chivalrous Knight 3, food, shelter tents, and basic supplies were provided to Palestinian families
KT APPDOWNLOAD
Pakistan central bank hikes interest rate 125 bps to 15%
Higher rate should help cool economic activity, bank says
Twitter
Pakistan's main policy rate has been hiked 125 basis points to 15%, the country's acting central bank governor Murtaza Syed said on Thursday.
Syed's announcement at a virtual press conference followed a meeting of the Monetary Policy Committee, days after inflation in Pakistan surged to a 13-year high in June.
The key interest rates have been increased 525 bps since the start of this year.
"This combined action continues the monetary tightening underway since last September, which is aimed at ensuring a soft landing of the economy amid an exceptionally challenging and uncertain global environment," the bank said in a statement that followed the news conference.
The bank said the higher rate should help cool economic activity, prevent a de-anchoring of inflation expectations and provide support to the Rupee in the wake of multi-year high inflation and record imports.
More news from
The South African is tied with Denmark’s Nicolai Kristensen at the halfway stage of the tournament
The neighbourhood around the consulate was closed after the 60-year-old entered the premises, claiming to be armed with an explosive vest
All competent authorities must work together and coordinate to expedite possible means of support
Emirati Jiu-Jitsu stars win 23 medals, athletes grab 11 medals, and People of Determination excel with 14 medals
The first of seven phases, Friday's vote covered 166 million voters in 102 constituencies across 21 states and territories
The unique showcase brings together a diverse lineup of comedians from India and Pakistan, promising an hour of non-stop entertainment
Work teams across all customs centres continued to process cargo clearance and inspections
