Pakistan's rate hike to 12% draws opposing reactions from foreign investors and businesses

Dawn reports Pakistan's central bank raised rates by 50 basis points to 12% on October 26. It says foreign investors welcomed the increase, while the business community called it counterproductive for industrial growth and export competitiveness. A user said the bank cited the Middle East conflict and “persistently elevated” energy prices, and noted September inflation of 10.3% against a 5–7% target.