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Russia hikes key interest rate to 20% | The Express Tribune
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[ad_1] MOSCOW: The Russian central bank on Monday raised its key interest rate to 20% from 9.5% to counter risks of rouble depreciation and higher inflation. Russia has also ordered companies to sell 80% of their foreign currency revenues, the central bank and the finance ministry said. The central bank also announced a slew of…
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6% growth rate by 2025 targeted | The Express Tribune
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[ad_1] ISLAMABAD: The government has finalised a China-centric and tradable sectors-focused three-year economic growth strategy to achieve an average growth rate of 5.9% and per capita income of over $2,100 by 2025. The Planning Commission has shared the broader contours of the draft economic growth strategy with Prime Minister Imran Khan. The draft strategy will…
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Fed rate hikes are coming — how to tackle your savings, mortgage, car payments and credit-card debt in advance
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[ad_1] Wall Street investors and Washington D.C. lawmakers are closely listening to what Federal Reserve Chairman Jerome Powell says Wednesday about the central bank’s next steps in its fight against decades-high inflation. “In light of the remarkable progress we’ve seen in the labor market and inflation that is well above our 2% longer run goal, the…
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T-bill yields fall as SBP maintains rate | The Express Tribune
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[ad_1] KARACHI: The cut-off yields on treasury bills (T-bills) fell in the range of 15-68 basis points in the auction of sovereign debt securities on Wednesday, encouraging the government to raise a higher amount of debt against the target to pay off previous loans. “Cut-off yields have declined after the central bank left the benchmark…
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Monetary policy: SBP leaves policy rate on hold at 9.75%
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[ad_1] State Bank of Pakistan Governor Reza Baqir addressing a press conference on January 24, 2022. — YouTube screengrab KARACHI: State Bank of Pakistan (SBP) Governor Reza Baqir announced Monday that the monetary policy has been maintained at 9.75% for the next two months — in line with market expectations. The central bank stated that in…
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SBP increases policy rate by 100bps to 9.75%
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[ad_1] Building of State Bank of Pakistan in Karachi. — AFP/File KARACHI: In a bid to counter inflationary pressures and to ensure that growth remains sustainable, the State Bank of Pakistan (SBP) on Tuesday announced an increase of 100 basis points in the benchmark policy rate, taking it to 9.75%. In a statement, the central…
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SBP hikes interest rate by 150 bps to 8.75%
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[ad_1] — AFP/File KARACHI: The State Bank of Pakistan (SBP) on Friday increased its benchmark policy rate by 150 basis points due to risks related to inflation. According to a statement issued by the central bank, it has decided to increase the interest rate to 8.75%. Earlier, the central bank had brought forward its monetary…
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Turkish lira hits record low as central bank cuts interest rate
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[ad_1] — AFP/File ISTANBUL: The Turkish lira sank to a record low against the dollar on Thursday after the central bank slashed interest rates for the third consecutive month following pressure to do so from President Recep Tayyip Erdogan. The bank cut its policy rate from 16% to 15% despite rising inflation and a fast-depreciating…
