Share:Pakistan’s central bank has increased the interest rate to 17 percent, the highest since October 1997. While this was more or less expected, the decision has been met with mixed reactions. Regarding these reserves, the unofficial cap on the rupee value has also been dropped so that value could match the market. This increase in supply is expected to check the dollar rate as it continues to decline. Already, the policy rate has increased and if inflation does not fall, further hikes will be unavoidable.

Source: The Nation January 26, 2023 03:42 UTC