Pakistan’s central bank held its key policy rate after oil prices surged as the Strait of Hormuz remained largely closed and the US threatened to deepen a conflict that has upended energy markets.
The emblem of the State Bank of Pakistan in Karach.
Pakistan’s central bank held its key policy rate after oil prices surged as the Strait of Hormuz remained largely closed and the US threatened to deepen a conflict that has upended energy markets.
The emblem of the State Bank of Pakistan in Karach.
Pakistan announced a range of measures to curb government spending and steps to save fuel as the conflict in the Middle East disrupts energy supplies, threatening economic stability in the South Asian nation.
Customers queue at a gas in Karachi on March 7. Photographer: Rizwan Tabassum/AFP/Getty Images
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