Pakistan Unexpectedly Holds Rates Ahead of IMF Bailout Review – Bloomberg

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Pakistan’s inflation pace slowed to 27.38% in August.
Pakistan unexpectedly left the discount rate unchanged in a second straight meeting with expectations of a drop in consumer prices despite market expectations for prices to remain elevated.
State Bank of Pakistan Governor Jameel Ahmad said in an analyst briefing that the target rate is in line with International Monetary Fund conditions for a tighter policy ahead of a loan program review due November. Monetary policymakers raised rates by a cumulative 600 basis points since January as part of a pledge for Pakistan to clinch $3 billion in bailout loans.

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