Pakistan's central bank has recently announced a significant reduction in its benchmark interest rate. This decision is part of ongoing efforts to stimulate the nation's struggling economy, which has been facing multiple crises.
The rate cut, which is the fourth consecutive reduction, aims to foster economic recovery. A survey conducted by Bloomberg revealed that all 38 economists polled anticipated a rate cut, with eight predicting the exact magnitude of the decrease. The State Bank of Pakistan's latest action reflects a broader strategy to support growth amid challenging economic conditions.