State Bank of Pakistan (SBP) Governor Jameel Ahmed on Monday announced a second consecutive rate cut to 19.5 percent from 20.5 percent, in line with market expectations.
The SBP cut its benchmark interest rate by 150 basis points to 20.5% last month, following a record high of 22% that had been held for nearly a year.
Addressing the media after the Monetary Policy Committee (MPC), the central bank governor said the decision was taken amid a decline in the inflation rate.
SBP Governor Ahmed said the inflation rate has come down to 12.60 per cent from 38 per cent while the external account has continued to improve.
But to continue…
