KARACHI: The State Bank of Pakistan has reduced the discount rate from 9.5 to 8.5 percent.
The State Bank Governor Ashraf Wathra told a news conference in Karachi that inflation rate is coming down due to reduction in oil prices in the market. He said inflation declined to 4.3 per cent in the last month.
He expressed the confidence that the momentum of growth in agriculture sector witnessed during last financial year would continue during current fiscal year.
Interestingly, Finance Minister Ishaq Dar had announced the cut before the announcement by the SBP governor.
Businessmen welcomed the SBP’s decision of lowering the discount rate by 100 basis points to 8.5 per cent and termed it a good omen for the economy of the country.
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