State Bank cuts interest rate by 75bps, disappoints markets

By Shahnawaz Akhter
March 18, 2020

KARACHI: The central bank delivered the much-awaited interest rate cut on Tuesday — the first after almost four years — to support the country’s fragile economy that now also faces the threat of coronavirus, though the move failed to cheer the market which was betting on a bigger rate reduction. The SBP said its monetary policy committee (MPC) decided to cut the policy rate by 75 basis points to 12.50 percent.