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Fed tightening may pressure PKR but rising oil remains bigger risk for Pakistan, warn experts
The US Federal Reserve’s 25-basis-point interest rate hike is unlikely to have a major immediate impact on Pakistan, market experts told Business Recorder, although it could put pressure on the rupee, raise dollar-based debt-servicing costs and make future external borrowing more expensive. The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, bringing the benchmark overnight interest rate to a range of 3.75%-4.00%, marking the first policy shift under the new Fed chief, Kevin Warsh, who took office in late May. Updated projections indicate that 16 out of 1...
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