Pakistan's central bank cuts key policy rate by 200 basis points to 13%

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Pakistan's central bank cuts key policy rate by 200 basis points to 13% - Business Standard

Quick Summary:

Pakistan's central bank on Monday further reduced the key policy rate by 200 basis points (bps) to 13 per cent from 15 per cent amid improvement in inflation.

The State Bank of Pakistan (SBP) announced that its Monetary Policy Committee (MPC) decided to cut the policy rate by 200 bps to 13 per cent, effective from December 17, 2024.

However, it added that core inflation, which stood at 9.7 per cent, was proving to be sticky, whereas inflation expectations of consumers and businesses remain volatile.