Islamabad, Sep 12: The State Bank of Pakistan (SBP) announced on Thursday that it has decreased the interest rate by 200 basis points to 17.5 percent, effective September 13, 2024.
SBP announced the declaration during a meeting of the bank’s Monetary Policy Committee (MPC) through an official press release.
This choice goes above and beyond what the market anticipated.
This time, as in earlier monetary policy statements, inflation was a major factor in lessening the financial strain of the benchmark lending rate.
The policy rate has decreased for the second time in the current fiscal year and for the third time in a row.
