‘Devaluation to trigger new wave of price hikes’
6 per cent rupee devaluation in a single day on Thursday would not only trigger a new wave of price hikes but the expensive loans after the interest rate hike would hit industrial activities, warned trade and industry leaders on Thursday...
Earlier this week, the State Bank of Pakistan (SBP) had raised the interest rate by 100 basis points to a 25-year high of 17pc to tame inflation but the latest currency devaluation would limit the...