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Pakistan keeps key interest rate unchanged at 7per cent - central bank

KARACHI, Pakistan: Pakistan's central bank held its policy rate unchanged at 7per cent on Friday, citing the need to support the country's economic recovery and financial stabilisation.

The economy has continued to recover and business sentiment has further improved since the last policy announcement in March.

"Since its last meeting in March, the MPC (policy committee) was encouraged by the further upward revision in the FY21 growth forecast to 3.94 percent," the bank said in a statement.

(Reporting by Syed Raza Hassan; Writing by Asif Shahzad; editing by John Stonestreet)

Source: Reuters

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