Pakistan Near to Declare Bank Corrupt.

The State Bank of Pakistan has increased the interest rate by 150 basis points to address the risks of inflation and widening balance of payments in the country, resulting in an increase in the interest rate in the country from 7.25 percent to 8.75 percent.

The interest rate hike by the central bank of Pakistan was done in the monetary policy meeting which was scheduled to be held on November 26, but according to the central bank, due to some emergency factors, the monetary policy meeting was postponed a week before Scheduled for November 19, the central bank hiked interest rates by 150 basis points.

Although industry and economic affairs analysts and experts in Pakistan were expecting an increase in interest rates, the increase was expected to be in the range of 50 to 75 basis points.