SBP geared up to tackle ‘mother of all external shocks’ as Pakistani economy falters

3 The News/Files KARACHI: The State Bank of Pakistan (SBP) is all geared up to tackle the “mother of all external shocks” as the economy falters amid the coronavirus crisis, its governor, Dr Reza Baqir, said in an interview with Bloomberg. “The policy response during [COVID-19] has been prudent,? Baqir told the publication, referring to three consecutive rate cuts that brought down the interest rate to 9% ? single digits, as advised and demanded by the local business community.