An undated image of the State Bank of Pakistan building in Karachi. — AFP
The State Bank of Pakistan (SBP) on Monday slashed the key policy rate by 50 basis points to 10.5% in a surprise move despite food-led inflation pressures and external considerations.
In the last four monetary policy meetings, the central bank had observed the status quo. The last cut of 100 bps was announced in the May meeting, reducing the policy rate to 11%
This is a developing story and is being updated with further details.
