Pakistan’s central bank cuts interest rate by 100 basis points

The central bank of Pakistan has cut the bank interest rate by 100 basis points to 12%.

The central bank’s Monetary Policy Committee said in a statement today that the impact of this significant cut in interest rates since last June will continue to be felt and support economic activity further, adding that inflation continued on a downward trend in line with expectations, reaching 4.1% year-on-year in December.

It indicated that inflation is expected to decline further in January.