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SBP Cuts Interest Rate to 19.5%

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The State Bank of Pakistan (SBP) announced a one percent reduction in the interest rate on Monday, bringing it down to 19.5 percent. This decision was revealed by SBP Governor Jameel Ahmad during a media briefing after the monetary policy meeting.

Ahmad noted that inflation is gradually decreasing and the country’s economy is on the path to recovery. As a result, the monetary policy committee decided to reduce the interest rate by 100 basis points to support economic growth.

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“The reduction in the interest rate reflects our confidence in the current economic trajectory,” Ahmad stated. He added that future projections expect the average inflation rate to stabilize between 23% and 25%, following last year’s rate of 23.4%.

The central bank remains optimistic about further improvements in economic indicators, viewing the rate cut as a measure to bolster economic growth.

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