July 30 (Bloomberg) -- Pakistan’s central bank unexpectedly cut interest rates, almost three weeks after its governor resigned blaming state spending for price pressures in a nation with the second-fastest inflation in Asia.
The State Bank of Pakistan reduced the discount rate to 13.5 percent from 14 percent, Acting Governor Yaseen Anwar said at a news conference in Karachi today. All 11 economists in a Bloomberg News survey predicted the rate would stay unchanged.
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