SBP Reduces Policy Rate by 100 Basis Points to 8.00 Percent
MG News | May 15, 2020 at 04:37 PM GMT+05:00
May 15, 2020( MLN): The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) in its meeting held on May 15, 2020 in Karachi, has decided to reduce the Policy Rate by 100 Basis Points to 8 percent.
Similarly, the SBP Overnight Reverse Repo and Repo Rates will also change to 9.00 and 7.00 percent.
The new policy rate will be applicable from May 18, 2020.
The market expectation was that the Central Bank would make interest rates more accomodative.
Link to Monetary Policy Statement
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