News out a short while ago
- not entirely expected.. only 11 out of 21 economists surveyed by Bloomberg had forecast a cut
- central bank says global oil price yet to bottom
- recent gas hike offset by lower global oil price
- maintains FY2016 inflation forecast between 4.5%-5.5%
- inflation risked by subsidy withdrawal and and low food costs
Another Asian rate cut flying in the face of anticipated rate hikes in US/UK
Lower borrowing costs and lower oil prices are helping PM Nawaz Sharif who is under pressure to do more to revive the economy, end persistent power shortages and attract badly needed foreign investment
Did our readers in Pakistan see this move coming ?