ISLAMABAD: The State Bank of Pakistan (SBP) announces its sixth monetary policy of the year on Saturday slashed 100 basis points, which is another historical low in Pakistan.
The State Bank of Pakistan (SBP) has cut 100 basis points (one percent), reduced the interest rate to seven percent.
Governor State Bank Ashraf Wathra announced the slash in interest rate at a news conference on Saturday.
The Governor said the cut in interest rate will help generate business activity and attract more investment in the country.
He said the cut in energy and fuel prices will also promote economic activity.