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ISLAMABAD: State Bank of Pakistan (SBP) on Friday hiked rates by 50 basis points to 6.5 percent, amid growing concerns about a widening current account deficit and rising oil prices.
"Since the last meeting, in MPC's assessment the balance-of-risks to the sustainability of the healthy-growth-low-inflation nexus have shifted," State Bank of Pakistan said in a statement.
The rate increase was largely expected by economists.
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