After keeping the rates unchanged in March’s monetary policy, the State Bank of Pakistan (SBP) has cut the policy rate by 100bps to 11.0%. The policy rate has halved in less than a year, down from 22.0% in June 2024.

Intermarket Securities believes the key reasons behind the rate cut are:

Headline CPI coming off to multi-decade low in April, with core inflation dipping to 8.0%YoY, resulting in an........

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