State Bank Cuts Policy Rate by 250 Basis Points to 15 Percent.

Karachi: The State Bank of Pakistan has cut the policy rate by 250 basis points to 15 percent. The decision was announced during a meeting of the Monetary Policy Committee held in Karachi today.According to Radio Pakistan, the new policy rate will be effective from tomorrow. The Committee noted that inflation has declined faster than expected, leading to the decision to reduce the policy rate.