Articles for tag: 200 basis points, Bank, bps, collection of taxes, core inflation, current account deficit, cuts, economy of Pakistan, Fall, FBR, Federal Board of Revenue, financial prospects, fiscal policy, foreign exchange reserves, Inflation, inflation in pakistan, Monetary Policy, Pakistan, policy, policy rate, Rates, reduction of interest rates, remittances, SBP, state, state bank of pakistan, world oil prices

September 12, 2024

The State Bank of Pakistan (SBP) cut its policy rate by 200 basis points to 17.5 percent on Thursday as gauge and core inflation fell more than expected over the past two months. The rate cut will take effect from September 13, 2024. The SBP’s Monetary Policy Committee (MPC) attributed this decision to the fall in global oil and food prices and the delay in the expected hike in administrative energy prices. The central bank, however, warned of potential risks linked to global economic instability and domestic energy adjustments, urging a cautious approach to future monetary policies. Inflation eased to

September 8, 2024

News Desk

Business

SBP is likely to cut interest rates again

KARACHI: At its upcoming monetary policy meeting scheduled for Friday, September 12, Pakistan’s central bank is widely expected to make a third consecutive cut in its key interest rate. The cut, expected to be in the range of 1% to 1.5%, follows inflation falling to single digits in August and is aimed at supporting economic activity in the 2024-25 financial year. There is a possibility of a further cut given the significant difference between the current State Bank of Pakistan (SBP) policy rate and the latest inflation indication, which leads to an effective rate of 10-11%. Historically, Pakistan maintains an

September 5, 2024

News Desk

Business

Businessmen are calling for a 500 basis point cut in interest rates

KARACHI: Businessmen Group President Zubair Motiwala and Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmed Sheikh requested the State Bank of Pakistan (SBP) to announce a significant rate cut of at least 500 basis points to reduce the interest rate on 14.5% in the upcoming monetary policy statement. They cited the continued decline in inflation to 9.6% in August, while Moody’s recently upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa3. In a joint statement on Wednesday, business leaders said that with inflation falling to its lowest level in three years,

September 3, 2024

News Desk

Business

Inflation slows to three-year low

Islamabad: Pakistan’s annual inflation rate eased to 9.6 percent in August, the lowest level in nearly three years, due to a higher base effect and lower prices for non-perishable food items. However, there was a notable double-digit acceleration in the prices of other basic goods. The Pakistan Bureau of Statistics reported on Monday that inflation slowed to 9.6 percent in August compared to the same month last year. This is the slowest rate since October 2021 when it was recorded at 9.2%. Details show that the decline in inflation is attributed to higher inflation rates in August last year and

State Bank of Pakistan cuts policy rates by 200 BPS amid fall in inflation

SBP is likely to cut interest rates again

Businessmen are calling for a 500 basis point cut in interest rates

Inflation slows to three-year low

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Deputy Commissioners in KP Given Power to Detain Without Charge

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