The central bank slashes interest rate by 150bps to 20.5pc after seven sessions

Published 9 months ago on Jun 10th 2024, 4:35 pm
By Web Desk

Karachi: The State Bank of Pakistan (SBP) has slashed the key policy rate by 150 basis points, taking it from 22 per cent to 20.5pc. The rates will be effective from June 11, 2024.
In its statement, the MPC said that while the significant decline in inflation since February was broadly in line with expectations, the May outturn was better than anticipated earlier.
“The Committee assessed that underlying inflationary pressures are also subsiding amidst tight monetary policy stance, supported by fiscal consolidation.
“This is reflected by continued moderation in core inflation and ease in inflation expectations of both consumers and businesses in the latest surveys.

Mercedes-Benz is hedging its bets with rebooted CLA sedan
- 16 minutes ago

Army Chief arrives in Parliamentary Committee on National Security meeting
- 2 hours ago

CTD kill three terrorists in Bannu, Charsadda
- 39 minutes ago

24 dengue cases reported in Karachi
- 20 minutes ago

LHC orders to form committee to investigate harassment in educational institutions
- 2 hours ago

‘Aghosh’ program: New mothers, pregnant women in Punjab to get Rs23,000
- an hour ago

FO highlights objectives of PM Shehbaz’s visit to Saudi Arabia
- 26 minutes ago

Current account deficit reduced by over $1bn in 8 months
- 4 hours ago

Mother, daughters kidnapped from Sheikhupura rescued in Lahore
- 4 hours ago

Bahraini National Guard Commander meets COAS Asim Munir
- 3 hours ago

Actress Mariyam Nafees gives birth to first child
- 6 hours ago

Israeli’s worst bombing in Gaza, 200 Palestinians martyred, several injured
- 5 hours ago
You May Like
Trending