With the December 2024 rate cut, the State Bank of Pakistan reduced the benchmark interest rate from its peak of 22% down to 13.0%, marking a cumulative cut of how many basis points in 2024?
A900 basis points
B500 basis points
C1000 basis points
D700 basis points
Explanation
During 2024, SBP lowered the interest rate in consecutive cuts from 22% in June down to 13.0% in December, totaling a 900 bps reduction.
Exam Relevance
- Topic: International & National Current Affairs (December 2024)
- Subtopic: December 2024
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