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.
“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.
Pakistan is keen to enhance cooperation with Russia in various sectors, including trade, energy, connectivity,…
Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan has declared the upcoming rally at Minar-i-Pakistan in Lahore…
The federal government is preparing to introduce the Supreme Court Practice and Procedure Amendment Ordinance…
The government is considering a proposal to establish a new steel mill in Karachi in…
Karachi Business Guild, led by Patron-in-Chief Farhan-ur-Rehman and Chairman Faraz-ur-Rehman, hosted a grand Dawat-e-Nahari and…
Authorities reportedly discovered "explosives" in a vehicle near former US President Donald Trump's rally site…
This website uses cookies.
