{"id":559813,"date":"2023-03-03T09:59:51","date_gmt":"2023-03-03T04:29:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=559813"},"modified":"2023-03-03T10:52:22","modified_gmt":"2023-03-03T05:22:22","slug":"pakistan-raises-key-rate-by-300-bps-slaps-rs-3-23-power-surcharge","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/pakistan-raises-key-rate-by-300-bps-slaps-rs-3-23-power-surcharge\/","title":{"rendered":"Pakistan raises key rate by 300 bps, slaps Rs 3.23 power surcharge"},"content":{"rendered":"<p>Pakistan\u2019s central bank raised its benchmark interest rate to 20 per cent to rein in soaring inflation that it expects to quicken further as the country works to resume a $6.5 billion International Monetary Fund bailout.<\/p>\n<p>State Bank of Pakistan\u2019s monetary policy committee increased the target rate by 300 basis points from 17 per cent, the central bank said in a statement on its website. The move was seen by 6 of 38 economists, most of whom expected a 200-basis-point hike. The current 20 per cent is the highest since June 1997 when the central bank used a different benchmark, according to data compiled by Bloomberg.<\/p>\n<p>\u201cThe MPC noted that the recent fiscal adjustments and exchange rate depreciation have led to a significant deterioration<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan\u2019s central bank raised its benchmark interest rate to 20 per cent to rein in soaring inflation that it expects to quicken further as the country works to resume a $6.5 billion International Monetary Fund bailout. State Bank of Pakistan\u2019s monetary policy committee increased the target rate by 300 basis points from 17 per cent, the central bank said in a statement on its website. The move was seen by 6 of 38 economists, most of whom expected a 200-basis-point hike. The current 20 per cent is the highest since June 1997 when the central bank used a different benchmark, [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-559813","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/559813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=559813"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/559813\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=559813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=559813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=559813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}