A logo of the State Bank of Pakistan (SBP) is pictured on a reception desk at the head office in Karachi, Pakistan July 16, 2019. — Reuters
KARACHI: The State Bank of Pakistan (SBP) on Monday slashed the key policy rate by 200 basis points (bps), marking its fifth consecutive cut as inflation continues to drop.
Last month, the central bank cut its key interest rate by 250bps to 15%, at least 0.5% more than the market expectations amid declining inflation.
The consumer price index (CPI) for November clocked in at 4.9% — well below the general market consensus.
This is a developing story and is being updated with more details.
