Industrialists aren't happy with SBP's decision to cut the rate to 13%
While the most recent 2% cut is a positive step, there is room for a further 5% reduction, according to President of the Karachi Chamber of Commerce Jawed Balwani
Business Desk
The Business Desk tracks economic trends, market movements, and business developments, offering analysis of both local and global financial news.
While Pakistan's central bank has reduced the key interest rate by a cumulative 900 basis points since it began the monetary easing cycle in June, industrialists aren't happy.
A high interest rate makes borrowing more expensive and makes it more likely for investors to prefer risk-free investments such as keeping their money in saving accounts.
So, while the most recent 2% cut is a positive step, there is room for a further 5% reduction, according to President of the Karachi Chamber of Commerce Jawed Balwani.
Watch Nukta's full video to hear industrialists and economists' opinions about the latest monetary policy decision and how it will affect the Pakistani economy.
Comments
See what people are discussing