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The State Bank of Pakistan raised its policy rate to 12%.
Higher rates raise borrowing costs for Pakistani importers of feed ingredients and can slow demand, with limited direct effect on global feed prices.
After 28 past macro events, KWHEAT moved a median -0.5% over 5 sessions (46% higher; middle half -3.0% to +3.0%), and -2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.