Tanveer Urges SBP to Cut Rate to 6%

Tanveer urges SBP to cut rate to 6%

SM Tanveer, Patron-in-Chief of the United Business Group (UBG), has called on the State Bank of Pakistan (SBP) to cut the policy rate to 6%, citing a sharp drop in inflation. He noted that the Consumer Price Index (CPI) stands at 0.3%, while average inflation is around 4%, making the current 11% interest rate excessively high. "The International Monetary Fund (IMF) also recommends keeping interest rates positive relative to inflation," said Tanv…

SBP pressed to lower policy rate amid low inflation

S. M. Tanveer, the Patron-in-Chief of the United Business Group (UBG), has issued a strong appeal to the State Bank of Pakistan (SBP) to significantly reduce its policy interest rate to 6 percent. In a statement released on Thursday, Tanveer asserted that such a drastic cut is essential to stimulate economic growth, given the country’s currently low inflation figures. Tanveer highlighted the stark disparity between the SBP’s prevailing policy ra…