SBP likely to cut policy rate by 7% in 2024 as inflation eases: Bloomberg

By MG News | January 16, 2024 at 12:05 PM GMT+05:00

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January 16, 2024 (MLN): The State Bank of Pakistan (SBP) will likely start cutting its key rate from March as inflation slows down, and is expected to slash a cumulative 700 basis points by the end of 2024, according to Bloomberg.

Two trends are generally favorable for emerging markets going into 2024; interest rates are falling, and companies are seeking to bring their supply chains nearer to home.

Rate cuts by central banks in emerging markets should support growth in 2024, it said.

According to Bloomberg's inflation projections released in December, average quarterly inflation in Pakistan is anticipated to fall below 25% in the first quarter of 2024, below 15% in the second quarter of the same year, and around 10% by the fourth quarter of 2024.

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