Pakistani government lowers profit rates on national saving schemes by up to 1.22%.
The Pakistani government has lowered profit rates on national saving schemes by up to 1.22%, potentially discouraging savings and exacerbating the already low domestic saving rate. This follows a 4.50 percentage point decrease in the key policy rate by the State Bank of Pakistan, now at 17.5%. Rates for various accounts and certificates have been adjusted, with experts indicating these changes may foreshadow further interest rate cuts in future monetary policy.
September 13, 2024
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