State Bank cuts interest rate by 2%
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11 months ago
Islamabad, Pakistan— The State Bank of Pakistan (SBP) has reduced the key interest rate by 2%, bringing it down from 15% to 13%. This marks the fifth consecutive rate cut, with a total reduction of 9% over the past five decisions.
The SBP’s decision comes after a thorough review of the country’s micro and macroeconomic conditions. The central bank has been gradually easing the interest rate to stimulate economic activity amid ongoing challenges.
The reduction is expected to provide relief to borrowers and support investment in various sectors, helping to boost economic growth. The central bank’s move also reflects efforts to strike a balance between controlling inflation and fostering economic recovery.
The SBP’s Monetary Policy Committee, which meets regularly to assess the country’s financial landscape, will continue to monitor key indicators and adjust the policy rate as needed to support Pakistan’s economic stability.
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