{"id":64231,"date":"2020-04-17T14:59:22","date_gmt":"2020-04-17T09:59:22","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64231"},"modified":"2020-04-17T14:59:23","modified_gmt":"2020-04-17T09:59:23","slug":"sbp-brings-interest-rate-down-single-digit","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-brings-interest-rate-down-single-digit.html","title":{"rendered":"SBP brings interest rate down to single digit"},"content":{"rendered":"\n<p>Islamabad: The State Bank of Pakistan (SBP) has notified another reduction in the national interest policy rate; bringing it down to a single digit, a news source reported. As such, the central bank has reduced the interest rate from 11% to 9%.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/sbp-abolishes-service-charges-payment-cards-covid-19-donations.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"SBP abolishes service charges on payment cards for COVID-19 donations (opens in a new tab)\">SBP abolishes service charges on payment cards for COVID-19 donations<\/a><\/p>\n\n\n\n<p>In the past few weeks, SBP has provided a cumulative\nreduction in the national\ninterest policy rate of 4.25%. The reduction comes amid the uncertain\nglobal and national economy situation in the wake of the COVID-19 pandemic. <\/p>\n\n\n\n<p>In regards to the latest reduction, an emergency meeting of the Monetary Policy Committee (MPC) announced slashing of 200 basis points. MPC was of the view that a reduction in the national interest policy rate would cushion the impact of the coronavirus situation in growth and employment in the country. The committee opined that the measure would ease borrowing costs and debt service burden of households and businesses while maintaining financial stability. <\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/85000-pakistanis-availed-loan-relief-schemes-sbp.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"85,000 Pakistanis have availed loan relief schemes: SBP (opens in a new tab)\">85,000 Pakistanis have availed loan relief schemes: SBP<\/a><\/p>\n\n\n\n<p>The MPC further highlighted that the cut in the national interest policy rate\nwas in line with SBP\u2019s recent efforts aimed at mitigating the impact of the\nCOVID-19 pandemic on the national economy. This includes extensions in debt\nrepayments, concessional financing to business organisations, and more. The\ncommittee added that the said reduction would also help revive the economic\nactivity once the pandemic subsides.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The State Bank of Pakistan (SBP) has notified another reduction in the national interest policy rate; bringing it down to a single digit, a news source reported. As such, the central bank has reduced the interest rate from 11% to 9%. Read: SBP abolishes service charges on payment cards for COVID-19 donations In the past few weeks, SBP has provided a cumulative reduction in the national interest policy rate of 4.25%. The reduction comes amid the uncertain global and national economy situation in the wake of the COVID-19 pandemic. In regards to the latest reduction, an emergency meeting of the Monetary Policy Committee (MPC) announced slashing of 200 basis points. MPC was of the view that a reduction in the national interest policy rate would cushion the impact of the coronavirus situation in growth and employment in the country. The committee opined that the measure would ease borrowing costs and debt service burden of households and businesses while maintaining financial stability. Read: 85,000 Pakistanis have availed loan relief schemes: SBP The MPC further highlighted that the cut in the national interest policy rate was in line with SBP\u2019s recent efforts aimed at mitigating the impact of the COVID-19 pandemic&hellip;<\/p>\n","protected":false},"author":68,"featured_media":64016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[26581],"persona":[],"class_list":{"0":"post-64231","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-details-on-sbp-brings-interest-rate-down-to-single-digit","9":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP brings interest rate down to single digit - Zameen News<\/title>\n<meta name=\"description\" content=\"SBP has notified another reduction in the national interest policy rate; 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