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Pakistan Holds Rate at Record With IMF Talks Underway

Pakistan’s central bank held the key interest rate at a record high for a sixth straight meeting, as a newly-elected government holds loan talks with the International Monetary Fund that wants a tight monetary policy to curb inflation.

The State Bank of Pakistan kept the target rate at 22%, according to a statement on Monday. Thirty of the 37 analysts surveyed by Bloomberg predicted a hold while the rest expected a cut.

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