Sam Price Discusses the Impact of Pakistan's Interest Rate Hike

According to Twitter user Sam Price, the State Bank of Pakistan has raised its interest rate by 50 basis points to 12%, marking the first hike since April. This move is attributed to the conflict in the Middle East and persistently high energy prices. The inflation rate in September reached 10.3%, significantly above the target range of 5% to 7%. One of the ten policymakers expressed a desire for a more substantial rate increase. Energy-importing countries are feeling the pressure of oil prices exceeding $100 per barrel. If more central banks follow suit, it will impact global expectations for interest rate cuts.

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