New Monetary Policy Announced: Discount Rate Cut by 50 Basis Points. State Bank
The State Bank of pakistan has announced the new monetary policy for the next two months.
Discount rate Cut by 50 basis points from 10.50% to 10%.
Stock Market is witnessed Up trend as the experts were anticipating a 50 to 100 basis points cut in the interest rates by the board of directors of the central bank.
Former caretaker finance minister Dr Salman Shah had said that food inflation and growing fiscal deficit remain major risk for the central bank to maintain price stability, therefore, it is expected that it would keep status quo in the upcoming monetary policy statement.
The State Bank had cut down its benchmark interest rate by 150 basis points to 10.5 percent for August-September And for the next month a cut of 50 basis points is announced.