Karachi: The State Bank of Pakistan has announced a reduction in its key policy rate by 100 basis points, bringing it down to 12 percent. This decision was made during a meeting of the Monetary Policy Committee held in Karachi on Monday, with the new rate set to take effect from Tuesday.
According to a statement by Ministry of Information and Broadcasting, the move is aimed at addressing economic challenges and supporting financial stability. The reduction in the policy rate is part of broader efforts to stimulate economic growth and manage inflationary pressures.
The decision comes amid ongoing evaluations of the economic landscape, where central banks globally are recalibrating their monetary policies to adapt to changing economic conditions. The State Bank’s adjustment reflects a strategic approach to managing the national economy.
This latest adjustment follows a series of meetings and assessments by the Monetary Policy Committee, which regularly evaluates the economic indicators to align monetary policy with current economic needs.