ISLAMABAD – State Bank Of Pakistan Further Cuts Policy Rate. Government of Pakistan, on Tuesday, has cut its benchmark policy rate by 150 basis points to 11pc. This comes a week after lowering the cost of borrowing by 75 bps.
According to details, the State Bank of Pakistan announced the second cut in a week via a tweet which read as follows. “It noted considerable uncertainty about how the coronavirus outbreak would impact the global economy and Pakistan.”
Earlier this month, the State Bank of Pakistan announced the monetary policy. In that, the policy rate was at 13.25 percent. Meanwhile, Central banks of several countries have slashed their interest rates to stimulate growth. All of this is in the wake of a global slowdown due to the coronavirus.
State Bank Of Pakistan Further Cuts Policy Rate.