The State Bank of Pakistan (SBP) made a major cut by reducing 200 basis points in its monetary policy announced for the next 90 days on Thursday.
The central bank slashed the interest rate by two percent to 17.5% in the monetary policy announced today.
The Monetary Policy Committee (MPC) of the central bank met today to fix the policy rate for the next one-and-half month.
Analysts were expecting that the committee will continue monetary easing between 150-200bps on a lower inflation outlook.
The state bank stated that the inflation went down to single digit in August at 9.64 percent. “The inflation continuously going down”.
The central bank said that the growth in current year likely to remain 3.5 percent.
