Friday 12 October 2012

Pakistan: rate cuts bring little joy outside a booming stock market | beyondbrics

Pakistan’s businesses should be celebrating this month’s interest rate cut of 50 basis points, which brought down the rate down to a maximum of 10 per cent.

But many critics argue it will take more than rate cuts to pull Pakistan’s economy out of trouble.

The latest rate cut on October 5 has reduced interest rates altogether by 400 basis points since July 2011, making it a record reduction in interest rates for the south Asian economy.

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