Skip to main content

State Bank hikes 25 basis points in new Monetary Policy

ISLAMABAD: Governor State Bank of Pakistan on Thursday announced 25 basis points hike in the interest rate in a press conference here on the new monetary policy for the upcoming two months.

Governor central bank Tariq Bajwa’s announcement of 25 basis points hike has pushed the interest rate to 10.25 percent.

Earlier, the Monetary Policy Committee (MPC) of the central bank in its meeting in Islamabad decided the Monetary Policy.

The central bank had hiked the monetary policy rate by 150 basis points in November last year pushing the interest rate to 10 percent.

The State Bank has hiked the interest rate by overall 450 basis points with its fresh increase in interest rate since January in previous year.

Earlier, some economic analysts predicted further 50 to 100 basis points hike in interest rate by the central bank at its bi-monthly interest rate policy review meeting.

Other experts, however, had advised against the hike in interest rate insisting to leave the rate unchanged.

Pakistan’s central bank announces its policy on the interest rate after every two months in view of the ground realities of the national economy.

The bank’s policy rate, entails managing liquidity in the money market with the objective to keep the short-term interest rates stable and aligned with its policy.

The post State Bank hikes 25 basis points in new Monetary Policy appeared first on ARYNEWS.



from ARYNEWS http://bit.ly/2MGyxS0
Labels:

Comments

Post a Comment

Popular posts from this blog

Rouhani calls Imran, discusses resumption of trade

ISLAMABAD: Pakistan and Iran on Wednesday discussed full resumption of bilateral trade, which was halted last month because of the Covid-19 pandemic. “The two sides stressed the need to reactivate borders and border markets and strengthen trade ties by following health guidelines,” a statement issued by the Iranian presidency on the telephonic conversation between Prime Minister Imran Khan and President Dr Hassan Rouhani said. President Rouhani had called the prime minister for Ramazan greetings. Border trade between the two countries was suspended after a meeting of the National Security Committee (NSC), held on March 13, decided to close all borders because of the pandemic. Islamabad partially relaxed the restrictions on April 21, allowing the import of certain food items and provision of petrol and diesel to the border areas. Cargo traffic from Iran was allowed for three days every week. Cargo movement between the two countries takes place through five border crossings — Taftan...
Post a Comment
Read more

Today’s outlook: Sindh CM discusses reopening markets with PM Khan

Here are some of the stories we are expecting to follow today (Thursday): Sindh Chief Minister Murad Ali Shah will take Prime Minister Imran Khan into confidence over reopening shops and markets across the province. The reopened markets will have to follow SOPs. Sindh Transport Minister Awais Qadir Shah will discuss SOPs with transporters for resuming public transport in the coming days. The meeting will be held at the Sindh Assembly building at 1:30pm. The Oil and Gas Regulatory Authority has proposed a price cut of Rs20.68 per litre for petrol in its summary. Imam-e-Kaaba Sheikh Abdul Rahman Al-Sudais has said Masjid Al Haram and Masjid Al Nabawi will be reopened for worshipers soon. He said the Kaaba is being sterilised using latest technologies. Punjab Chief Minister Usman Buzdar will head various meetings during his visit to Bahawalpur. As of Thursday, Pakistan has reported more than 15,500 confirmed coronavirus cases. ICYMI: An amendment to the National Accountability Or...
Post a Comment
Read more

If Pakistani elderly self-distance infections could drop 30%: study

If we do nothing, COVID-19 could infect 206 million Pakistanis and kill 691,000. This is the estimation of researchers from the Imperial College London COVID-19 Response Team who have published country-wise projections in a March 26 report ‘ The Global Impact of COVID-19 and Strategies for Mitigation and Suppression ’ Furthermore, using an infection fatality rate from China, this means 4.4 million Pakistanis would require hospitalisation and from among those, 917,000 individuals would require critical care. Pakistan has a population of 220 million people. The research is based on the infection fatality rate from China, country health care system capacities and that one person with coronavirus is likely to infect 3 others. (You can find the excel sheet with Pakistan numbers here: Imperial-College-COVID19-Global-unmitigated-mitigated-suppression-scenarios.xlsx ) Forty-seven researchers crunched the numbers and made these projections to give countries, including Pakistan, some idea of...
Post a Comment
Read more