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Pakistan's central bank keeps main interest rate at 5.75 pct
November 24, 2017 / 3:38 PM / 24 days ago

Pakistan's central bank keeps main interest rate at 5.75 pct

KARACHI, Pakistan Nov 24 (Reuters) - Pakistan’s central bank kept its main policy interest rate unchanged at 5.75 percent on Friday, citing steadily rising economic growth.

Pakistan’s $300 billion economy expanded 5.3 percent in the fiscal year that ended in June - the fastest rate in a decade - but State Bank, the central bank, said growth should edge up to 6.0 percent in the fiscal year starting next July.

The South Asian nation has recently been battling to stave off balance of payments pressures due to dwindling foreign currency reserves and a widening current account deficit. (Writing by Asif Shahzad; Editing by Hugh Lawson)

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