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State Bank of Pakistan lowered its benchmark discount rate to 13% from 14% on Saturday. This is the second time that Pakistan is adopting such a measure that is aimed at boosting investor confidence. The Central Bank Governor Salim Raza said the next announcement would be in the last week of September.
Raza added that the country has seen steady improvement in key indicators, despite the tough economic environment. He noted that inflation continues the downtrend and that foreign exchange reserves have increased.
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