KARACHI: The State Bank has reduced the interest rate after one year to 20.5 percent.
State Bank has released the monetary policy statement according to which the interest rate has been reduced by 150 basis points.
Inflation stood at 11.8 percent in May as inflation eased sharply due to tighter monetary policy and lower food prices.
It should be noted that the rate of interest remained at 22% from 25 June 2023.
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