The State Bank of Pakistan (SBP) announced on Monday a 100 basis points (bps) reduction in its key policy rate, lowering it to 12 percent in response to mounting calls for a significant rate cut, News.az reports citing Xinhua.

The State Bank of Pakistan (SBP) on Monday announced a reduction in the key policy rate of 150 basis points (bps) to 20.5 percent with effect from Tuesday.