Pakistan's central bank cuts key policy rate by 150 basis points

ISLAMABAD, June 10 (Xinhua) -- The State Bank of Pakistan (SBP) on Monday announced a reduction in the key policy rate of 150 basis points (bps) to 20.5 percent with effect from Tuesday.

Official data showed that the Monetary Policy Committee of the SBP decided to cut the policy rate after keeping it at 22 percent for almost 12 months.

It is also the first-rate drop in the policy rate in four years, with