Pakistan central bank cuts key rate by 100 bps

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Pakistan central bank cuts key rate by 100 bps - Channel News Asia

Quick Summary:

KARACHI : Pakistan's central bank cut its key policy rate by 100 basis points to 12 per cent on Monday, the governor told reporters, for a sixth straight reduction since June as the country attempts to revive business and economic sentiment amid easing inflation.

That was below the government's forecast and significantly lower than a multi-decade high of around 40 per cent in May 2023.

Fourteen of 15 analysts surveyed by Reuters expected the central bank to cut its key rate by at least 100 bps mainly due to a drop in inflation.