State Bank of Pakistan cuts key policy rate

October 09, 2011 00:00:00

KARACHI, Oct 8 (Reuters): Pakistan's central bank Saturday cut its key policy rate by 150 basis points to 12 per cent for the subsequent two months, the State Bank of Pakistan said in a statement, again exceeding analysts' expectations. Analysts polled by Reuters earlier this week were expecting a cut between 50 and 100 basis points. The central bank cut the rate by 50 basis points to 13.5 per cent on July 30, also exceeding analysts' expectations.