Pak central bank acts to ease liquidity crunch

UPDATED ON OCT 18, 2008 11:36 PM IST
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Pakistan's central bank announced a several aggressive steps to ease a liquidity crunch in the banking system. State Bank Governor, Shamshad Akhtar said that banks cash reserve ratio for deposits up to one year will be cut 200 basis points to 6.0 percent. She also added that these measures would boost liquidity in the banking system by 240 billion rupees.

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