The State Bank of Pakistan has reduced the interest rate by one per cent.
State Bank Governor Jameel Ahmad said that the Monetary Policy Committee has reduced the interest rate from 13 per cent to 12 per cent.
He said that Pakistan’s economic indicators are positive, inflation and current account deficit have reduced significantly, inflation was 38 percent in May 2023 which has decreased to 4.1 percent, inflation will be further reduced in January.
He said that the current account remained in surplus in the first half of the financial year, due to the current account being in surplus, the foreign exchange reserves increased.
