KARACHI Oct 8 The central bank of pakistan
reduced banks' cash reserve ratio (CRR) to 8 percent from 9
percent, effective from Oct. 11, the State Bank of Pakistan's
spokesman told Reuters on Wednesday.
The central bank will further slash the CRR to 7 percent
effect from Nov. 15.
Bankers had privately urged the central bank to reduce the
statutory liquidity requirement (SLR) or CRR by at least 50
basis points, or possibly both, to stop a liquidity crunch
putting banks in jeopardy.
(Reporting by Sahar Ahmed; Editing by Simon Cameron-Moore)