ISLAMABAD: Pakistan's central bank cut its benchmark interest rate to 7 percent from 8 percent on Saturday, a larger-than-expected move aimed at spurring economic growth against a backdrop of slowing inflation.
Some analysts had been expecting a smaller cut of 50 basis points. The larger reduction came after annual inflation fell to 2.11 percent in April from 2.49 percent in March, largely on the back of weak oil prices.
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