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Pakistan central bank keeps policy rate unchanged

TheState Bank ofPakistan on Sept. 24 kept the monetary policy rate at .

The centralbank said the year-over-year CPI inflation rate rose to 3.6% in August from1.8% in August 2015. The core inflation rate also increased over the sameperiod.   

Pakistan'ssupportive macroeconomic environment and record-high foreign exchange reserveshave helped the country withstand the uncertainties in commodity prices and thesubdued global growth for 2016, according to the central bank. However,declining exports and rising imports could further widen the government'saccount deficit.

Meanwhile,the country's economy is expected to further expand on the back of improvingindustrial activity.