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KARACHI, Sept 12 - Pakistan's central bank is expected to hike rates when it meets to decide on policy on Thursday as it seeks to tackle sky-high inflation and bolster diminished foreign exchange reserves that have sent the rupee to record lows.
The South Asian nation is trying to navigate a tricky path to economic recovery under a caretaker government in the wake of a $3 billion IMF loan programme, approved in July, which helped avert a sovereign debt default. "The recent currency depreciation is also a key reason why another rate hike is likely, especially since the use of foreign-exchange reserves which are still very low is not a viable option," said Shivaan Tandon, economist at Capital Economics.
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