STATE BANK OF PAKISTAN REDUCED INTEREST || BANKS OF PAKISAN || ECONOMY || INFLATION ||

First cut in 4 years: SBP reduces key policy rate by 150 basis points, takes it to 20.5%
In its statement, the MPC said that while the significant decline in inflation since February was broadly in line with expectations, the May outturn was better than anticipated earlier.
“The MPC assessed that underlying inflationary pressures are also subsiding amidst a tight monetary policy stance, supported by fiscal consolidation,” it said.
The MPC noted that since its last meeting, real GDP growth has remained moderate at 2.4% in FY24 as per provisional data, with subdued recovery in industry and services partially offsetting the strong growth in agriculture.
“Second, reduction in the current account deficit has helped improve the FX reserves to around US$9 billion despite large debt repayments and weak official inflows. The government has also approached the IMF for an Extended Fund Facility, which is likely to unlock financial inflows that will help in further build-up of FX buffers. Lastly, international oil prices have declined, whereas non-oil commodity prices have continued to inch up.”
“Based on these developments, the Committee, on balance, viewed that it is now an appropriate time to reduce the policy rate. The Committee noted that the real interest rate still remains significantly positive, which is important to continue guiding inflation to the medium-term target of 5-7%. The Committee also emphasised that the future monetary policy decisions will remain data-driven and responsive to evolving developments related to the inflation outlook.”
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[@muhammadfarooq1695]

Very nice information

[@user-ns1ig1zg5v]

Nice message as usual. Interest rate curtailed to 5/6% only for better growth.

[@shahidimran459]

Nice message.

[@hmdtower9025]

Great man

[@ilyasjalal8015]

Because you are appose interest.

[@assadbashir8005]

بھائ آپ اسلامی بینک پہ اعتراض کیوں کر رہے ہیں۔ ایک چیز علماء کرام کے بورڈ کے انڈر ہے۔ اور انھوں نے سود سے پاک ایک نظام ترتیب دیا ہے۔ تو ایک عام آدمی جسکا دین کا مطالعہ نہیں ہے۔ لوگوں کو شک میں ڈال رہا ہے۔ علماء کی اس کوشش پہ انکی مدد کریں۔ تاکہ نظام مذید بہتر ہو سکے۔ شکریہ