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Pakistan
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The interest rate hike was aimed at sustainable growth: Governor SBP

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State Bank of Pakistan (SBP) Governor Raza Baqir has said that inflation and current account deficit have increased in the last two months. Done for the purpose. Speaking privately after the SBP hiked the basic interest rate by 1.5 percent in monetary policy, Raza Baqir said that steps were being taken to reduce inflation, adding that this year our growth would be five percent. The pace of growth is accelerating, the economic growth target has been set at 5% this year. He added that the pace of inflation is increasing, our target is stable growth, inflation, current account deficit has increased in the last two months, it was higher than our previous expectations. Today we have taken this step to improve growth, some people have reservations, we also have reservations due to inflation, exchange rate.

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