Pakistan Cuts Interest Rates to Two-Year Low to Aid Economy
- State Bank of Pakistan cuts target rate by 250 bps to 15%
- Inflation will ease further in the next few months, SBP says
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Pakistan cut its benchmark interest rate to the lowest in two years as policymakers look to support the nation’s crisis-ridden economy.
The State Bank of Pakistan lowered the target rate by 250 basis points to 15%, the central bank said in a statement on Monday. All the 38 economists surveyed by Bloomberg predicted a rate cut, with eight forecasting the exact measure.