World Economy

Pakistan Keeps Rate Unchanged

Pakistan Keeps Rate UnchangedPakistan Keeps Rate Unchanged

Pakistan’s central bank kept its key policy rate unchanged at 5.75% on Saturday, citing steady remittances and low oil prices, Reuters reported. State Bank of Pakistan Governor Ashrah Mahmood Wathra told a news conference that foreign direct investment is projected to increase as work on projects under the $46 billion China-Pakistan Economic Corridor gains momentum. Pakistani’s $250 billion economy is growing at the fastest pace in eight years, but it has struggled to attract large-scale investment and is counting on planned CPEC roads, a deep-water port and several energy projects for a boost.