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.
U.S. President Donald Trump said up to five fighter jets were brought down during the…
Spotify's RADAR Pakistan returns this quarter, spotlighting Afusic as its latest featured artist. Afusic is…
The Overseas Investors Chamber of Commerce and Industry (OICCI) is deeply saddened by the tragic…
If you’re planning a Dubai getaway that’s got a little bit of everything, world-class shopping,…
The Citizens Foundation (TCF), a leading non-profit organisation dedicated to education in Pakistan, has launched…
inDrive, the country’s largest mobility platform, has launched Premium-category Rides in major cities across Pakistan,…
This website uses cookies.
