The State Bank of Pakistan's MPC - Monetary Policy Committee has reduced the interest rate by 100 basis point (BPS) and takes it to 19.5%, viable from 30th July, 2024.
The MPC saw that the June 2024 inflation was somewhat better compared to expected. The inflationary effect of the Fiscal Year 25 budgetary measures was comprehensively in accordance with prior assumptions.
In any case, it predicted that average inflation rate is prediction to stay in the scope of 11.5 - 13.5 percent in Fiscal Year 25, down altogether from 23.4 percent in Fiscal Year 24.
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