State bank of Pakistan cuts interest rates further in the history of Pakistan.
The State bank of Pakistan (SBP) has announced one more time to reduce the interest rate. This time Imran Khan announced to reduce the interest rate by one more percentage.
Now the interest rate in Pakistan is 8%.
According to the monetary policies of State Bank, due to the lockdown in Pakistan, it not so easy and not possible to stop the economic slowdown. The step of lowering the interest rate is not insufficient for the Pakistanis in this epidemic. He further said that this situation which is being caused by Covid-19 is a great challenge to monitoring policies of state banks.
The State Bank said that the
expected inflation rate in the next financial year will be 7 to 11 %.
The State Bank of Pakistan said that the fall in prices of petroleum products has eased the pressure on inflation and
the inflation rate will remain at 11-12% this financial year.
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