Pakistan Holds Interest Rates Steady as Inflation Soars Past 32%

• Pakistan central bank keeps interest rate unchanged at 22% amid high 32.89% inflation • Move aims to bring down inflation to 5-7% target range by September 2025
• Comes after 1.35% weekly inflation spike just 2 weeks after new government formed • Pakistan initiated talks with IMF regarding final $1.1B tranche under existing program • Pakistan expected to seek new $6-8B, 36-month IMF loan program