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SBP raises interest rate to 12% amid Iran-US tensions and rising oil prices

The State Bank of Pakistan has increased its benchmark interest rate to 12% from 11. 5%, citing economic uncertainty arising from Iran-US tensions and rising international oil and commodity prices. Nine members of the 10-member Monetary Policy Committee voted in favour of the 50-basis-point increase. All members attended the meeting. The central bank said the decision

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