KARACHI: The State Bank of Pakistan (SBP) has reduced the policy rate by 100 basis points from 9.5 percent to 8.5 percent, which will be effective from January 26.
This is the lowest interest rate in last seven years, said SBP Governor Ashraf Mahmood Wathra while announcing Monetary Policy Statement (MPS) for next two months here at a press conference on Saturday. The decision was taken during a meeting of the Central Board of Directors of SBP held under his chairmanship today, he said.
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