The State Bank of Pakistan Monetary Policy Committee (MPC) on Monday reduced the policy rate by 150 bps to 20.5 percent, effective from June 11, 2024.
The MPC noted that while the significant decline in inflation since February was broadly in line with expectations, the May outturn was better than anticipated earlier.
The Committee assessed that underlying inflationary pressures are also subsiding amidst tight monetary policy stance, supported by fiscal consolidation.
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