KARACHI: Pakistan yesterday slashed its primary interest rate by half a percentage point on the back of receding inflation, improving economic indicators at home and sustainable cuts in commodities prices on international markets. The central State Bank of Pakistan cut the basic interest rates from 10 percent to 9.5 percent.
“The State Bank of Pakistan has decided to reduce the policy rate by 50 bps (basis points) to 9.5 percent,” the bank announced in a statement.
Reuters
