State Bank of Pakistan cut interest rates for the second time this year, suggesting that lower inflation gave it more room to stimulate a sluggish economy.
The cut, by a full percentage point to 13%, was made on Saturday and will be effective Monday.
Syed Salim Raza, the governor of the central bank, said the cut was made "in recognition of the positive macroeconomic developments and to provide impetus to growth, while remaining aware of the risks and challenges faced by the economy."
- Podcast: San Fran Fed’s Daly on gender inequality in central banks
- Malaysian central bank sends details of own land deal to anti-corruption body
- Strike halts Australian banknote production
- EBA and ECB hit out at capital hurdles to banking union
- Turkish central bank carries out emergency rate hike as currency falls