Pakistan cuts interest rates unexpectedly to 5.75%
The central bank stated that macroeconomic conditions are improving and that inflation should remain below the annual average target of 6%. Consumer prices rose 4.2% in April, posting the fastest pace of growth since December 2014. Meanwhile, Prime Minister Nawaz Sharif had previously lowered the government’s growth forecast to 5% from 5.5% for the year ending June 30. Sharif is looking to boost the growth pace to 6% in the next year.
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