Pakistan central bank lowered its benchmark rate by 1.50 percent made it at 20.5 percent

Pakistan Economy: There are frequent reports about the poor economic condition of India's neighbouring country Pakistan. Here, everything from onions to interest is increasing the financial problems of the people. Pakistan's Central Bank has reduced its benchmark rate by a bigger margin than expected. This is the first reduction in Pakistan in four years. Pakistan's Central Bank has reduced the policy interest rate by 1.5 percent on Monday to 20.5 percent amid improvement in inflation rate.

The interest rate was reduced by 1.50 percent and this became the interest rate

Amid improving inflation, Pakistan's central bank, the State Bank of Pakistan (SBP), on Monday cut interest rates by 1.5 per cent to 20.5 per cent. In a statement, the State Bank of Pakistan said that its monetary policy committee reviewed the current economic development in a meeting on Monday. It took into account the 'better than expected' decline in inflation for May.

Pakistan has a record-high rate of 22% in 11 months

The MPC said that the reduction in the current account deficit in Pakistan has helped improve foreign exchange reserves by about $ 9 billion despite large debt payments and weak inflows. The policy rate cut comes after a long time as the bank had maintained a record-high policy rate of 22 percent for the last 11 months. According to the statement, despite these risks and the decision to cut rates, the steps taken earlier are expected to curb inflationary pressures.

Most experts did not anticipate

The State Bank of Pakistan (SBP) said in a statement that its Monetary Policy Committee (MPC) review of current economic growth found that inflation fell more than expected in May. After consumer prices fell in the South Asian country, its MPC noted some upside risks to the near-term inflation rate outlook due to upcoming budgetary measures. It is worth noting that out of the estimates taken before the MPC meeting in the country, only two economists had predicted this decision.

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