Pakistani minutes show weak economy but low inflation

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The minutes of the State Bank of Pakistan's December 14 meeting, in which the central bank decided to cut the benchmark interest rate by 50 basis points, show weak credit, falling foreign investment and low inflation as major factors behind the decision.

The central bank said CPI inflation had fallen "considerably faster" than earlier estimates had predicted, with year-on-year CPI at 6.9% in November. "This broad-based deceleration in inflation is now expected to keep the average inflation for

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