SBP announces final monetary policy for the current financial year

The State Bank of Pakistan (SBP) has announced the final monetary policy for the current financial year.

SBP also announced 100 basis points cut in interest rates. The interest rate has been reduced from 9% to 8%.

Over the past two months, interest rates have been cut by 5 percent.

The interest rate has been reduced from 13.25% to 8% in the past two months. However, the investors had demanded an interest rate of up to 5%.

Earlier, State Bank of Pakistan (SBP) has enhanced refinance limits under its Rozgar Scheme to finance up to 100% of wages/salaries of businesses with average 3month wage bill of up to Rs500mn for onward payments for April, May and June, 2020.

In its latest press release, mentioned on twitter handle, SBP) has enhanced refinance limits under its Rozgar Scheme to finance up to 100% of wages/salaries of businesses with average 3month wage bill of up to Rs500mn for onward payments for April, May and June, 2020.