SBP slashes policy rate 100 basis points to 7 percent

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2020-06-25T18:05:03+05:00

Karachi (Web Desk): The State Bank of Pakistan (SBP) on Thursday slashed the policy rate by another 100 basis points to bring it to 7 percent.

“State Bank of Pakistan's Monetary Policy Committee met today under the chairmanship of Governor, Dr. Reza Baqir, and decided to cut the policy rate by 100bps to 7%,” the central bank announced in a statement on Twitter.

The rate cut is the fifth since the coronavirus pandemic hit the global economy, with the total reduction being 625 basis points.

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