Pakistan Holds Policy Rate

KarachiBrent crude sat near $110 a barrel as of September 9.

Borrowers across Pakistan now pay 11.5% interest to offset a price set in the Gulf.

The central bank held its rate Monday, wary that cutting into an oil-driven import shock would weaken the rupee.

Some analysts had expected a 50-point hike instead, but oil’s next move now tests the bank’s hold.

Sources: Dawn