May 20, 2019 / 11:16 AM / 5 months ago

Pakistan central bank lifts key interest rate to 12.25 pct

ISLAMABAD, May 20 (Reuters) - Pakistan’s central bank raised its key interest rate by 150 basis points to 12.25% on Monday, citing inflationary pressures, exchange rate depreciation and an elevated fiscal deficit

The increase follows a preliminary agreement last week with the International Monetary Fund for a $6 billion loan that is expected to come with tough conditions, including pressure for higher interest rates. (Reporting by Asif Shahzad Editing by Robert Birsel)

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