Pakistan's central bank cut its key policy rate by 200 basis points to 13% on Monday, it said in a statement, its fifth straight reduction since June as the country keeps up efforts to revive a sluggish economy with inflation easing.

Pakistan cut its benchmark interest rate for the fifth straight meeting as easing inflation provides room for the central bank to boost growth.

Pakistan's central bank on Monday further reduced the key policy rate by 200 basis points (bps) to 13 per cent from 15 per cent amid improvement in inflation.

Officials say Pakistan has begun its last nationwide vaccination campaign for the year to protect 45 million children from polio after a surge in new cases hampered efforts to stop the disease.

Pakistan has reported a significant surge in poliovirus infections in 2024, confirming 63 cases so far, compared to only six cases in 2023