Pakistan Cuts Key Rate to Lowest in 13 Years as Inflation Slows
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Pakistan cut its benchmark interest rate to the lowest in almost 13 years as a decline in global oil prices helped slow inflation in a nation wracked by political protests and terrorism.
State Bank of Pakistan Governor Ashraf Mahmood Wathra reduced the discount rate for a third straight month to 8 percent from 8.5 percent, the central bank said on its website on Saturday. Nine of 11 economists in a Bloomberg survey predicted the reduction, two estimated the rate being cut to 7.5 percent.