Pakistan central bank cuts key rate by bigger than expected 200 bps

ISLAMABAD, 12th September, 2024 (WAM) -- Pakistan's central bank cut its key policy rate by a bigger-than-expected 200 basis points to 17.5 percent on Thursday, Reuters reported. This is the third straight rate reduction since June as the country looks to spur growth as inflation eases.

Most respondents in a Reuters poll had expected a cut of 150 basis points after inflation fell to single digits in August for th