Pakistan's central bank cut its benchmark interest rate by 100 basis points to 12% on Monday, in line with expectations, as inflation eases and growth looks to set to pick up after 1,000 basis points of rate cuts over the last six months.

Pakistan's central bank cut its benchmark interest rate by 100 basis points to 12% on Monday, in line with expectations, as the bank expects an uptick in economic activity after 1,000 basis points of rate cuts over the last six months.