State Bank of Pakistan cuts rates by 250bp
Fourth consecutive reduction comes one month after IMF begins disbursing $7 billion funding package
The State Bank of Pakistan today (November 4) cut its key interest rate by 250 basis points to 15%.
This is the central bank’s fourth consecutive cut since June. Over the past five months, it has cut rates by 700bp in total.
Annual headline inflation rose slightly in October to 7.2% – up from 6.9% the previous month, but still significantly lower than the 28.34% recorded in January.
The bank said that improved food supplies, lower commodity prices and contained demand would bring inflation down
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