Jameel Ahmed

Money Moves

Announced the October 26 rate decision at a news conference in Karachi

Pakistan's central bank raised its benchmark policy rate by half a percentage point to 12% on October 26, its first increase since April. Nine of the ten Monetary Policy Committee members voted for the move. Annual inflation was 10.3% in September, down from 11% in August but still well above the 5-7% target.

Updated Oct 28