State Bank of Pakistan (SBP) Governor Jameel Ahmed on Monday announced decreasing the interest rate for the second time in a row to 19.5% from 20.5% in line with the market expectations.
The SBP trimmed its benchmark interest rate by 150 bps to 20.5% last month, following a record-high 22% that had been maintained for almost a year.
Addressing the media following Monetary Policy Committee (MPC), the central bank governor said that the decision has been taken amid decline in inflation rate.
SBP Governor Ahmed said the inflation rate has come down to 12.60% from 38% while the external account has continued to improve.
