Karachi: The State Bank of Pakistan has cut the policy rate by 100 bps to 12 percent. The decision was made during the meeting of the Monetary Policy Committee in Karachi on Monday. The new rate will be effective from Tuesday.
According to Radio Pakistan, this adjustment comes as part of the central bank’s efforts to address the current economic conditions. The rate cut is expected to influence borrowing costs, aiming to stimulate economic activity in the country.