Life Style

SBP cuts key policy rate by 150bps to 20.5pc after seven sessions – Business

The State Bank of Pakistan announced on Monday that it had decided to cut the interest rate by 150 basis points (bps) to 20.5 per cent.

The decision to cut the key rate to 20.5pc comes ahead of the annual budget and a week after data showed inflation slowed to a 30-month low of 11.8pc in May.

In a statement, the SBP said the central bank’s Monetary Policy Committee (MPC) had met earlier today and reviewed the current economic developments.

Regarding the decision to maintain the status quo, the committee noted that “underlying inflationary pressures are also subsiding amidst tight
monetary policy stance, supported by fiscal consolidation”.

More to follow

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button