Inflation hits 60 year low, says SBP governor
Business
Says business activity is picking up, and the current account is in surplus
KARACHI (Dunya News) – State Bank of Pakistan Governor Jameel Ahmed Khan said on Monday that inflation had dropped to its lowest levels in 60 years, giving the economy a much-needed breather.
Speaking at an event in Karachi, the SBP chief said April‘s inflation rate stood at just 0.3 per cent.
He credited the government’s efforts and digital payment systems for stabilising the economy.
The policy rate has been slashed from 22 per cent to 11 per cent, making a 50 per cent cut in interest rates.
Business activity is picking up, and the current account is in surplus.
He said branchless banking and electronic money institutions played a key role in this economic turnaround.
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The governor also noted progress in Islamic banking, with a legal framework in place and staff training under way.
