: :inin Kyiv (EET)

Covid cut: SBP slashes interest rate to 7pc


–This is the fifth rate cut since coronavirus pandemic hit global economy, with total reduction being 625bps in last 100 days

KARACHI: The State Bank of Pakistan (SBP), in a meeting of the Monetary Policy Committee (MPC) on Thursday, slashed the country’s policy rate by 100 basis points from 8 per cent to 7pc.
The surprise move was taken in light of the SBP’s view that the inflation has improved further, but that domestic economic slowdown has continued, proving a risk to growth.
This is the fifth time in the space of four months in which the SBP has slashed the policy rate. …read more

Source:: Pakistan Today

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