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The State Bank of Pakistan (SBP) has announced a one percentage point reduction in its key interest rate, bringing it down to 19.5%. This decision was revealed by SBP Governor Jameel Ahmad during a media briefing following the recent monetary policy meeting. Ahmad attributed the rate cut to a gradual decrease in inflation and signs of economic recovery. The monetary …

US Senator Cynthia Lummis announced on Saturday her intention to introduce legislation for a groundbreaking “1-million-unit Bitcoin purchase program.” This proposed initiative aims to create a strategic Bitcoin reserve to enhance the strength of the US dollar and solidify the nation’s position in the global financial system. The program, valued at over $68 billion based on current Bitcoin prices, seeks …

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), expressed significant concern on Friday about the world’s weakest medium-term growth prospects in decades, projecting global growth at just over 3%. Georgieva highlighted several interrelated challenges impeding economic progress, including high debt levels, economic fragmentation, and the complexities involved in navigating digital and green transitions. She warned that a low …