KARACHI – The Pakistan Business Council said an interest rate cut of about 200 basis points on December 16 is possible, with further cuts expected in early 2025 if inflation remains under control. “This cut will bring the interest rate closer to the prevailing three-month interbank offered rate (KIBOR), which is currently around 12.5 percent,” … Read more
A man sits next to the Bank of England in the financial district of London, Britain, August 14, 2024. – Reuters The Bank of England cut interest rates for only the second time since 2020. “We need to make sure that inflation stays close to target,” the governor says. Rachel Reeves’ Budget is expected to … Read more
The State Bank of Pakistan logo on the reception desk at the head office in Karachi, Pakistan, July 16, 2019. — Reuters The State Bank of Pakistan (SBP) on Monday cut its key interest rate by 250 basis points to 15%, the fourth straight cut as inflation remains in single digits until October. Analysts as … Read more
In her recent remarks, Kristalina Georgieva, Managing Director of the International Monetary Fund, stressed the urgent need for governments around the world to rebuild their fiscal capacity in light of fiscal pressures and increasing economic uncertainty. Speaking at the annual meetings of the International Monetary Fund and World Bank in Washington, D.C., Georgieva noted that … Read more
Workers working in a textile factory. – Reuters/File ISLAMABAD: In a bid to ease financial pressures on the industrial sector, the Pakistan Textile Mills Association (APTMA) has urged the Monetary Policy Committee (MPC) to cut interest rates by at least 400 basis points in its next meeting on November 4. . Asking the MPC to … Read more
Prime Minister Shehbaz Sharif welcomed the Central Bank of Pakistan’s decision to reduce interest rates by 2%, describing it as a positive step for the country’s economy. He expressed optimism that lowering interest rates will boost investor confidence and increase investments in Pakistan. “The interest rate cut is a welcome step for our economy. It … Read more
Men use their mobile phones as they stand in front of an electronic board displaying stock market prices during a trading session on the floors of the Pakistan Stock Exchange (PSX) in Karachi, on June 12, 2017. — Reuters Stocks are in a volatile state as investors go bullish on index-heavy stocks. Analysts expect a … Read more
Federal Minister of Finance and Revenue Senator Muhammad Aurangzeb during a press conference in his office. – Geo.tv (screenshot) FinMin says that inflation is expected to reach new lows in the coming days. Aurangzeb laments the loss of Chinese independent power engineers in Karachi. He urges those calling for strikes to consider the ramifications of … Read more