Pakistan unexpectedly left the discount rate unchanged at a second consecutive meeting, going against the International Monetary FundConditions for a tighter policy ahead of a loan program review scheduled for November.
The multilateral lender wants State Bank of Pakistan act decisively to curb inflation, which is the fastest in Asia in the last five months. Monetary authorities have raised rates by a cumulative 600 basis points since January as part of a pledge for Pakistan to get $3 billion in bailout loans.