Tuesday, 16 July 2024, 01:55:41 pm

SBP decides to reduce policy rate by 1.5%
June 10, 2024

(File Photo)

State Bank of Pakistan has decided to reduce policy rate by one and half percent fixing it at twenty point five percent from Tuesday.

At its meeting, the Monetary Policy Committee decided to reduce the policy rate by 150 basis points.

The decision has been taken due to significant decline in inflation since February broadly in line with expectations.

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.