Pakistan central bank cuts key rate by 200 bps, fifth in a row

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Pakistan central bank cuts key rate by 200 bps, fifth in a row - Channel News Asia

Quick Summary:

KARACHI : Pakistan's central bank cut its key policy rate by 200 basis points to 13 per cent on Monday, it said in a statement, its fifth straight reduction since June as the country keeps up efforts to revive a sluggish economy with inflation easing.

"Inflation may remain volatile in the near term before stabilizing in the target range," the bank said.

The South Asian country is navigating a challenging economic recovery path and has been buttressed by a $7 billion facility from the International Monetary Fund (IMF) in September.