KARACHI, Pakistan, March 2 (Reuters) - Pakistan's
central bank raised its key interest rate on Thursday by 300
basis points, higher than expected, citing rising inflation.
The key rate of the State Bank of Pakistan now stands at
20%, its highest level since October 1996.
In its last policy meeting in January the bank raised the
rate by 100 bps to 17%. It has now raised rates by a total of
1,025 bps since January 2022.
(Reporting by Ariba Shahid in Karachi, and Asif Shahzad in
Islamabad
Editing by Gareth Jones)
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