State Bank of Pakistan Reduces Interest Rates After Four Years: A Major Shift in Monetary Policy
Pulling a policy U-turn, the State Bank of Pakistan (SBP) has reduced the interest rate by 1.5 percentage points, the first cut in four years. It’s an appropriate decision now that fiscal and monetary policies are shifting gears. Financial and economic circumstances have changed. Backdrop: A Long Period of High Interest Rates: For the past […]