SBP slashes key interest rate by 150bps to 11pc


KARACHI: The State Bank of Pakistan (SBP) on Tuesday slashed its key interest rate by 150 basis points to 11 per cent in the face of the escalating coronavirus crisis. The Monetary Policy Committee (MPC) of the country?s central bank in an emergency meeting decided to cut the benchmark interest rate for a second time in a week amid ?considerable uncertainty about how the Coronavirus outbreak would impact the global economy and Pakistan,? the SBP said in a Twitter statement.