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SBP further increases policy rate by 150bps to control inflation
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[ad_1] This file photo shows the building of the State Bank of Pakistan. — AFP KARACHI: In a bid to maintain the balance between inflation and economic growth, the State Bank of Pakistan (SBP) on Monday raised the benchmark policy rate by 150 basis points to 13.75% for the next six weeks. More to follow…
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SBP increases interest rate to 13.75% | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank has increased the benchmark interest rate by 150 basis points to 13.75% for the next six weeks. At a scheduled meeting on Monday, the bank revised the rate upwards ahead of the likely revival of the International Monetary Fund’s (IMF) $6 billion loan programme, which has been on hold for…
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Analysts see 100bps rate hike | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is scheduled to meet on Monday to announce the key policy rate for the next six weeks. The bank is highly expected to increase the rate by 100 basis points (bps) to 13.25% to counter a high inflation reading and likely surge in energy prices to pave the way for…
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With 6% growth rate, Pakistan’s economic size jumps to $383b | The Express Tribune
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[ad_1] ISLAMABAD: Fueled by imports and consumption, Pakistan’s economic growth rate accelerated to 6% during the last year of Imran Khan’s government – the highest pace in four years – helping to increase the size of the nation’s economy to $383 billion besides jacking up per-capita income. The provisional Gross Domestic Product (GDP) growth rate…
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Asian markets rise as Fed eases fears over huge rate hike
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[ad_1] Photo: AFP/file HONG KONG: Asian markets rallied Thursday following a Wall Street surge after the Federal Reserve played down chances of a huge interest rate hike in the near future, while oil extended gains as the European Union moved to ban imports from Russia. US central bank officials announced an expected half-point lift in…
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KIBOR rate hits 13-year high | The Express Tribune
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[ad_1] KARACHI: The commercial banks’ benchmark lending rate Kibor hit a 13-year high at 14.10% on Tuesday, in anticipation of a further spike in inflation reading, as the new PML-N coalition government is considering withdrawing subsidies on energy products to win back the International Monetary Fund (IMF) loan programme. The six-month Kibor (Karachi inter-bank offered…
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Lagarde sees strong chance of rate hike this year | The Express Tribune
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[ad_1] WASHINGTON: The European Central Bank is likely to end its bond purchase scheme in early third quarter and raise rates before the end of the year, European Central Bank President Christine Lagarde told CNBC on Friday, outlining the bank’s exit from stimulus. With inflation at record highs and still rising, the ECB has been…
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Russia flags further interest rate cut | The Express Tribune
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[ad_1] MOSCOW: Russia on Monday flagged a likely further cut in interest rates and more budget spending to help the economy adapt to biting western sanctions as it heads for its deepest contraction since 1994. Russia faces soaring inflation and capital flight while grappling with possible debt default after the West imposed unprecedented sanctions to…
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‘High interest rate threatens SMEs’ | The Express Tribune
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[ad_1] KARACHI: The business community has termed high interest rates threat to the survival of small and medium enterprises and cited that it caused significant increase in the cost of doing business for industries. In a joint statement, Pakistan Yarn Merchants Association (PYMA) Chairman Saqib Naseem and Vice Chairman for Sindh Muhammad Junaid Teli urged…
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‘High interest rate will destroy economy’ | The Express Tribune
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[ad_1] KARACHI/ISLAMABAD: Business chambers are in a state of panic and shock as they are speculating on how to cope with the fallout of a surprise 250 basis points rise in the benchmark interest rate by the State Bank of Pakistan (SBP). In a statement on Saturday, Federation of Pakistan Chambers of Commerce and Industry…
