Rooshan Aziz

Rooshan Aziz

The author is a financial services professional in London who graduated from the London School of Economics with a degree in Economics and Politics. The views expressed are his own and do not represent that of his employer. He tweets @rooshanaziz (twitter.com/rooshanaziz)

Controlling inflation: why the State Bank of Pakistan should be autonomous

The rise in the interest rate as well as the depreciation of the rupee against the US dollar have both become topical issues in recent months. What is considered a conventional policy measure globally – often implemented in light of declining foreign currency reserves – has been scrutinised and discussed in mostly political terms. It is evident from the reaction of our political class and media that the concept of an autonomous central bank is still not fully appreciated by many. The aim of an autonomous central bank is simple: credibility. Politicians are always tempted to lower interest rates to ...

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