SBP
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SBP prepones meeting to hike key policy rate | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) on Tuesday preponed its meeting to Thursday regarding the matter of hiking up its key policy rate by 100-200 basis points on the recommendation of the International Monetary Fund (IMF). The policy rate currently stands at a 24-year high of 17%. The central bank, through its Twitter handle,…
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SBP forex reserves register meagre rise
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[ad_1] A person counts $100 banknotes. — AFP/File Foreign exchange reserves held by the State Bank of Pakistan (SBP) registered a meagre rise as the cash-bleeding country tries to woo the International Monetary Fund (IMF) for unlocking a much-needed $1.1 loan tranche. In a statement, the central bank — without mentioning the reason — said…
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SBP reserves rise by $66m to $3.258b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank rose by $66 million to $3.258 billion in the week ending Feb 17, the State Bank of Pakistan (SBP) said on Thursday, while its total liquid foreign reserves stood at $8.726 billion. Pakistan, which is a $350 billion economy, is facing economic turmoil, with…
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SBP rubbishes claims of $3bn loss due to dollar cap
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[ad_1] A file photo of a person holding US dollar bills. — AFP/File The dollar cap, which was earlier imposed to stabilise the rupee’s rate against the greenback, did not result in losses worth $3 billion to the national kitty, the State Bank of Pakistan (SBP) said Sunday. To end the dollar crunch in the…
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SBP raises key interest rate to 25-year high of 17%
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[ad_1] State Bank of Pakistan Governor Jameel Ahmad addresses a press conference in Karachi on January 23, 2023. — AFP KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) Monday raised the key interest rate by 100 basis points (bps), taking it to 17% — the highest since October 1997. In…
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SBP withdraws some import restrictions
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[ad_1] This file photo taken on January 3, 2023 shows shipping containers stacked at Nanjing port in China’s eastern Jiangsu province. — AFP Following constant complaints from industry players and stakeholders, the State Bank of Pakistan (SBP) on Monday withdrew the requirement of prior approval of imports and directed banks to prioritise the import of…
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Monetary policy: SBP likely to raise interest rate today
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[ad_1] A representational image of the State Bank of Pakistan (SBP) building. — AFP/File The State Bank of Pakistan (SBP) is scheduled to meet today (January 23) to assess developments on the economic front and announce its monetary policy for the next seven weeks. Conflicting movements in economic indicators suggest the worst is not yet…
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SBP directs banks to facilitate the release of imports | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) on Monday announced a one-time facility for import-driven businesses in crisis, as it directed commercial banks to process import documents to release the majority of goods stuck up at Karachi ports. The directives are expected to gradually ease the crisis of imported raw materials across the industries…
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SBP set to raise policy rate to rein in inflation | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is highly expected to jack up its key policy rate by 100 basis points (bps) to 17% at the monetary policy review on Monday (Jan 23) ahead of the revival of International Monetary Fund (IMF) loan programme. “Implementation of the loan programme is feared to push inflation reading to multi-decade…
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SBP chief expects dollar inflows from next week
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[ad_1] An undated image of State Bank of Pakistan Governor Jameel Ahmad. — Twitter/@StateBank_Pak State Bank of Pakistan (SBP) Governor Jameel Ahmad on Wednesday claimed that the country will start receiving inflows from next week giving the government much-needed breathing space amid the liquidity crunch that is currently gripping the cash-strapped nation. The central bank…
