KARACHI: The State Bank of Pakistan will remain closed on May 28, 2025 (Wednesday) being public holiday on the occasion of Youm-e-Takbeer. The holiday commemorates Pakistan’s nuclear tests conducted in Chagai on the same date in 1998. In a statement issued, the central bank said the closure follows the federal government’s declaration of a public … Read more
ISLAMABAD: Finance Minister Ishaq Dar has said the State Bank of Pakistan has received $2 billion of deposits from the Kingdom of Saudi Arabia. In a message on Tuesday, Ishaq Dar said the friendly country had made a commitment in this regard in the recent past. He said these deposits had enhanced the country’s foreign … Read more
Colombia’s central bank may need to consider more increases to its benchmark interest rate. Leonardo Villar issued a warning last week that the inflation rate was still rising. The IMF urged extra caution to be used in managing. Depending on how inflation behaves in Latin America’s fourth-largest economy, Colombia’s central bank may need to consider … Read more
KARACHI: The coalition government borrowed Rs1.4 trillion from the financial system at a higher interest rate. The borrowing has been made from July 1, 2022, to January 6, 2023, which is 10 times higher, compared with the borrowed amount in the same period of the last fiscal year. The previous Pakistan Tehreek-e-Insaf (PTI) government borrowed … Read more
KARACHI: To facilitate businesses, the State Bank of Pakistan (SBP) has withdrawn the requirement of prior approval of imports falling under HS code chapters, 84, 85 and certain items under HS code Chapter 87 and instead gave a general guidance to the banks to prioritise import of certain essential items like food, pharmaceutical, energy, etc, … Read more
The Fed released its most recent survey on the health of the economy. Five of the 12 districts reported moderate or modest gains in overall economic activity. The number of job postings in the US decreased less than anticipated in November. The benchmark overnight lending rate now rests in a target range of 4.25%–4.50%. According … Read more
The Bank of Korea decided to increase its policy interest rate to 3.50%. This is the tenth highest interest rate. Total basis points increased to 300. The central bank of South Korea increased its benchmark interest rate by 25 basis points on Friday, a move that was widely anticipated and that many economists believed would … Read more
Consumer prices increased 9.1% year over year in June, a record 40-year high. Fed Governor Christopher Waller: “I believe the markets would suffer a heart attack”. This puts pressure on central bankers to immediately stabilise the situation. After a rocky start, central banks have demonstrated that they are committed to keeping inflation under control. Now … Read more
The Bank of Korea raised its policy rate by 50 basis points to 2.25%. It is the biggest increase since the bank adopted the current policy system in 1999. The decision could help curb further weakening of the won. After the currency tumbled 9.4% against the US dollar this year. South Korea’s central bank on … Read more
The Central Bank of Sri Lanka raises key rates by a full percentage point. Inflation touched a record 54.6% year-on-year in June while food inflation accelerated to 80.1%. The island of 22 million people is wilting under a severe foreign exchange shortage. The Central Bank of Sri Lanka (CBSL) raised its critical rates by a … Read more
Zimbabwe’s central bank to sell gold coins as a form of reserve money. The coins will be sold starting on July 25 in local currency and other foreign currencies. Annual inflation reached 192 percent in June, according to the latest official figures. Zimbabwe’s central bank said that it would begin selling gold coins this month … Read more
The S&P 500 saw its worst first-half percentage decline since 1970. The Nasdaq 100 e-minis were down 145.75 points at the opening of trading on Tuesday. premarket declines for the mega-cap growth companies Alphabet and Microsoft from 1.2% to 1.6%. Investors worried about the risk of an economic recession as central banks across the world … Read more
Israel raises its benchmark interest rate by 0.5% in an effort to combat inflation. Increase follows similar steps by central banks in the US and Europe. Annual inflation reached 4.1% in May, exceeding the central bank’s target range of 1% to 3%. In an effort to bring inflation back within its goal range, the central … Read more
The first funding for the Dutch central bank came in part from the slave trade. When slavery was abolished in 1863, compensation was provided to plantation owners. . He stated that the central bank would “become more diverse and inclusive” by responding “decisively” to racism and increasing recruitment diversity. The head of the Dutch central … Read more
The era of low interest rates and moderate inflation has come to an end. The pandemic and Ukraine conflict are undoing the effects of more than a decade of ultra-low inflation in the majority of industrialised economies. They warned that the fragmentation of the global economy posed a threat to supply chains, productivity, costs, and … Read more
Cecelia Rouse, director of Biden’s Council of Economic Advisers, says the bones of the U.S. economy are solid. The Fed last week implemented its third interest rate hike this year. Richmond Federal Reserve Bank President Thomas Barkin believes inflation concerns will be resolved soon. The American economy remains healthy, but a White House economist admitted … Read more
Inflation has spread throughout Europe, fueled by surging oil costs. It now affects everything from food to services, with double digit rates in some areas. The Swiss National Bank and the National Bank of Hungary both surprised markets with large rate hikes. LONDON – Central banks across Europe boosted interest rates on Thursday, some … Read more
Annual inflation falls to 17.1 percent in May, down from 17.8 percent in April. Food price inflation increased to 21.5 percent year on year in May. Russia has been hit with a barrage of international sanctions. Russia inflation fell to 17.1 percent in May, down from 17.8 percent in April, according to the national statistics … Read more
As it tries to contain increasing inflation, Australia’s central bank raised interest rates for the first time in 22 years on Tuesday, signalling that more tightening is on the way. The move stunned markets and sent the local dollar soaring. The Reserve Bank of Australia (RBA) raised its cash rate by 50 basis points to … Read more
The total injections, which included the usual money supply for the seven-day open market operation (injection) on Wednesday, were Rs2.07 trillion. On May 27, Rs1.82 trillion in long-term injections were made. In May 2022, the inflation rate hit a 28-month high of 13.76 percent. Inflation has already spiked 20% this week compared to the same … Read more
Due to external loan repayments, the State Bank of Pakistan’s (SBP) total foreign reserves fell by $366 million to $9.72 billion. The SBP reported that total liquid foreign reserves were $15,771.4 million as of May 27. The decline was caused by “external debt payments,” according to the central bank. The news comes as Pakistan has … Read more
Ukraine’s central bank more than doubled its main interest rate on Thursday. Extraordinary action aimed at bolstering the country’s economy. Russia’s invasion drove inflation to 16.4% in April, predicted to hit 20%. Ukraine’s central bank more than doubled its main interest rate on Thursday, in an extraordinary action aimed at bolstering the country’s economy, which … Read more
Ukraine’s central bank increased interest rates by more than doubling them. Double-digit inflation and defending the country’s currency. On Thursday, Ukraine’s central bank increased interest rates by more than doubling them, from 10% to 25%, marking the first hike since Russia invaded the nation on February 24. Read more: Inflation and the Ukraine war have … Read more
The US central bank wishes to hold elevating hobby quotes in big steps till inflation starts to come down, Federal Reserve Governor Christopher Waller said Monday. The Fed early this month introduced the most important boom within the benchmark hobby charge due to the fact 2000, following a smaller hike in March, as it targets to tamp … Read more
Wall Street shares climbed early Wednesday beforehand of Federal Reserve assembly mins as investors desire a pivot from the bearish sentiment that has dominated 2022. Orders for US-made, huge-price ticket manufactured items endured their upward fashion final month, rising 0.4 percent in April, slightly much less than what analysts had predicted however still indicating fantastic momentum. The … Read more
Negative interest fees will soon be an issue of the past within the eurozone, the ECB’s leader signaled Monday, with the bank poised to elevate costs for the primary time in over a decade to tamp down soaring inflation. The Frankfurt-based group became “possibly to be in a function to exit negative interest prices by … Read more
Soaring inflation within the eurozone intended the European Central Bank might soon need to deliver a cease to its long-status coverage of bad interest rates, the top of the German important bank said Friday. “It’s for sure that negative interest rates are a thing of the past,” Joachim Nagel said after a meeting of G7 … Read more
The United States is not likely to fall right into a recession as hobby fees upward thrust to fight hovering inflation, the American treasury secretary said Wednesday, while warning of the dangers for Europe following the invasion of Ukraine. “I honestly don’t count on the USA to fall right into a recession,” Janet Yellen stated … Read more
