(MENAFN) Pakistan's central bank announced cutting key discount rate to 8 percent from 8.5 percent, citing a continuing plunge in inflation and an improving economy, Arab News reported.
Analysts had been hoping for a cut, following a drop in inflation triggered by lower oil prices, even though the State Bank of Pakistan cut the rate by one percent in last January.
"Headline consumer price inflation continues to follow a downward trajectory and is expected to be well below the annual target of 8 percent," the bank said in a statement.
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