Pakistan cuts rates by 100 basis points
Decision comes after country secures IMF funding amid falling oil prices
Pakistan’s central bank today (July 29) announced it would cut its key interest rate by 100 basis points to 19.5%, after the country secured a loan to help boost its flagging economy.
The decision, which will be effective from July 30, is the second consecutive rate cut. In June, the State Bank of Pakistan (SBP) cut the policy rate for the first time in five years by 150bp to 20.5%.
Earlier this month, Pakistan sealed a $7 billion loan from the International Monetary Fund (IMF). The funding, which
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Serbia follows ECB with 25bp rates cut
Central bank cites slowing domestic and global inflationary trends for its decision
Russia hikes rates by 100bp
Central bank says growth in demand for goods and services still “significantly outstrips” supply
Peru cuts rates by 25bp for second successive month
Policy rates among lowest in Latin America amid cooling domestic inflation
ECB cuts rates by 25bp
Eurozone growth projections revised downwards as German economy slows
Japan should gradually raise rates to around 1% – BoJ’s Tamura
Board member considers this to be country’s neutral interest rate
RBA reforms in limbo amid opposition
Opposition says it will not support government proposals
FOMC members signal rate cut
Waller, Bostic, Daly, Schmid, Goolsbee and Williams speak towards balancing both sides of dual mandate
LatAm rate hikes consistent with pre-Covid strategy – BIS paper
Region’s central banks did not become more hawkish during pandemic, researchers argue