{"id":67220,"date":"2020-06-26T16:57:11","date_gmt":"2020-06-26T11:57:11","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=67220"},"modified":"2020-06-26T16:57:12","modified_gmt":"2020-06-26T11:57:12","slug":"sbp-announces-policy-rate-cut-by-100-points-to-7","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-announces-policy-rate-cut-by-100-points-to-7.html","title":{"rendered":"SBP announces policy rate cut by 100 points to 7%"},"content":{"rendered":"\n<p>Islamabad: The State Bank of Pakistan (SBP) on Thursday announced another policy rate cut of 100 points to 7% \u2013 making this the fifth time that the interest rate has been reduced within the last 100 days, according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-announces-suspension-service-charges-deposits-banks.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP announces suspension of service charges on deposits by banks<\/a><\/p>\n\n\n\n<p>The decision was made in the central bank\u2019s monetary policy committee meeting with a view to improve the national inflation outlook \u2013 while the domestic economy continues to downslide and poses risks to the growth rate increase. The <a href=\"https:\/\/www.zameen.com\/news\/sbp-cuts-national-interest-rate-8-percent.html\" target=\"_blank\" rel=\"noreferrer noopener\">policy rate cut <\/a>was prompted by the economic issues caused by the escalating coronavirus situation in the country. The total reduction has now reached 625 basis points.<\/p>\n\n\n\n<p>Moreover, the official SBP statement read that risks to the global economic outlook are skewed to the downside with no recovery path being certain. The World Economic Outlook (WEO) released yesterday that the International Monetary Fund (IMF) has degraded its global growth further to 4.9 \u2013 with a more gradual recovery.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pm-directs-finance-advisor-sbp-finalise-policies-facilitate-overseas-pakistanis.html\" target=\"_blank\" rel=\"noreferrer noopener\">PM directs Finance Advisor, SBP to finalise policies to facilitate overseas Pakistanis<\/a><\/p>\n\n\n\n<p>The SBP meeting observed that the economy will recover more slowly as the lockdown restrictions are lifted in the next fiscal year \u2013 heavily depending on the pandemic situation prevailing both nationally and globally.<\/p>\n\n\n\n<p>Furthermore, the committee noted that the SBP has increased initiatives\u2019 take-up like health sector support, concessional refinancing facilities to prevent layoffs and regulatory measures to provide debt servicing relief.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The State Bank of Pakistan (SBP) on Thursday announced another policy rate cut of 100 points to 7% \u2013 making this the fifth time that the interest rate has been reduced within the last 100 days, according to news sources. Read: SBP announces suspension of service charges on deposits by banks The decision was made in the central bank\u2019s monetary policy committee meeting with a view to improve the national inflation outlook \u2013 while the domestic economy continues to downslide and poses risks to the growth rate increase. The policy rate cut was prompted by the economic issues caused by the escalating coronavirus situation in the country. The total reduction has now reached 625 basis points. Moreover, the official SBP statement read that risks to the global economic outlook are skewed to the downside with no recovery path being certain. The World Economic Outlook (WEO) released yesterday that the International Monetary Fund (IMF) has degraded its global growth further to 4.9 \u2013 with a more gradual recovery. Read: PM directs Finance Advisor, SBP to finalise policies to facilitate overseas Pakistanis The SBP meeting observed that the economy will recover more slowly as the lockdown restrictions are lifted in the&hellip;<\/p>\n","protected":false},"author":75,"featured_media":64432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[32930],"persona":[],"class_list":{"0":"post-67220","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-sbp-announces-policy-rate-cut-by-100-points-to-7","9":"cat-15015-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 announces policy rate cut by 100 points to 7% - Zameen News<\/title>\n<meta name=\"description\" content=\"State Bank of Pakistan (SBP) announced another policy rate cut of 100 points to 7% \u2013 making this the fifth time that the interest rate has been reduced\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-announces-policy-rate-cut-by-100-points-to-7.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP announces policy rate cut by 100 points to 7% - Zameen News\" \/>\n<meta property=\"og:description\" content=\"State Bank of Pakistan (SBP) announced another policy rate cut of 100 points to 7% \u2013 making this the fifth time that the interest rate has been reduced\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-announces-policy-rate-cut-by-100-points-to-7.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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