ANL 10.59 Increased By ▲ 0.14 (1.34%)
ASC 9.47 Decreased By ▼ -0.34 (-3.47%)
ASL 10.95 Decreased By ▼ -0.70 (-6.01%)
AVN 69.20 Decreased By ▼ -0.16 (-0.23%)
BOP 5.86 Decreased By ▼ -0.08 (-1.35%)
CNERGY 5.14 Decreased By ▼ -0.01 (-0.19%)
FFL 6.76 Decreased By ▼ -0.19 (-2.73%)
FNEL 5.91 Decreased By ▼ -0.07 (-1.17%)
GGGL 11.18 Decreased By ▼ -0.11 (-0.97%)
GGL 15.00 Decreased By ▼ -0.13 (-0.86%)
GTECH 8.69 Decreased By ▼ -0.11 (-1.25%)
HUMNL 6.30 Increased By ▲ 0.03 (0.48%)
KEL 2.49 No Change ▼ 0.00 (0%)
KOSM 2.92 Increased By ▲ 0.08 (2.82%)
MLCF 26.50 Decreased By ▼ -1.11 (-4.02%)
PACE 3.00 Decreased By ▼ -0.05 (-1.64%)
PIBTL 5.85 Decreased By ▼ -0.10 (-1.68%)
PRL 15.80 Increased By ▲ 0.47 (3.07%)
PTC 7.35 Increased By ▲ 0.05 (0.68%)
SILK 1.37 Increased By ▲ 0.04 (3.01%)
SNGP 25.90 Increased By ▲ 0.09 (0.35%)
TELE 10.22 Decreased By ▼ -0.03 (-0.29%)
TPL 8.70 Increased By ▲ 0.03 (0.35%)
TPLP 15.38 Increased By ▲ 0.29 (1.92%)
TREET 28.10 Decreased By ▼ -0.50 (-1.75%)
TRG 76.58 Increased By ▲ 1.88 (2.52%)
UNITY 21.49 Decreased By ▼ -0.70 (-3.15%)
WAVES 12.90 Decreased By ▼ -0.15 (-1.15%)
WTL 1.48 Decreased By ▼ -0.02 (-1.33%)
YOUW 4.79 Decreased By ▼ -0.02 (-0.42%)
BR100 4,156 Decreased By -47.4 (-1.13%)
BR30 14,530 Decreased By -23 (-0.16%)
KSE100 41,950 Decreased By -489.9 (-1.15%)
KSE30 15,903 Decreased By -190.3 (-1.18%)
Pakistan

SBP cuts key interest rate by one percent

The new rate has come down from 9 percent to 8 percent. The SBP has reduced the interest rate by 5.25 percent
Updated 15 May, 2020
  • The new rate has come down from 9 percent to 8 percent.
  • The SBP has reduced the interest rate by 5.25 percent since March 17.
  • The interest rate has been reduced keeping in view the coronavirus situation in the country.

 

(Karachi) The State Bank of Pakistan (SBP) on Friday cut its key interest rate by one percent. The new rate has come down from 9 percent to 8 percent.

The State Bank's Monetary Policy Committee announced the decision. The interest rate has been reduced keeping in view the coronavirus situation in the country. The SBP has reduced the interest rate by 5.25 percent since March 17.

Earlier, the SBP announced that it will provide loans to health facilities on 3% markup to counter coronavirus outbreak. The SBP declared that inflation rate will come down in the coming months while the prices of petroleum products will also decrease.

Local businesses and exporters have lately been protesting at high borrowing costs, which they said was harming investment.

In January, the SBP  left the interest rate unchanged at 13.25 percent. The SBP announces a target rate every two months, which serves as the benchmark interest rate for overnight funds in the interbank market. It is one of the tools the central bank uses to ensure price stability in the economy.

Read SBP's Monetary Policy Statement here: MPS-May-2020-Eng

Comments

Comments are closed.