Encouraging Tweaks To Monetary Policy

BMI View: The size of the interest rate cut (100bps) by the State Bank of Pakistan (SBP) on August 15 was slightly less than the hoped for. However, the SBP also revealed a number of changes to how it conducts policy, including more frequent meetings. In view of declining inflation and the slowdown in the economy another rate cut in the not too distant future thus looks very likely.

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