Karachi: The State Bank of Pakistan (SBP) has announced its new monetary policy, deciding to keep the interest rate unchanged at 11%. The Monetary Policy Committee (MPC) held its second meeting of the year today, chaired by SBP Governor Jameel Ahmad. In the meeting, the committee decided to maintain the policy rate at its current … Read more
KARACHI: State Bank of Pakistan (SBP) will announce Monetary Policy on January 29 in a meeting of the Monetary Policy Committee. According to the SBP’s press release, the Monetary Policy Committee (MPC) will meet on Monday, January 29 to decide about the Monetary Policy, a press release issued by SBP said. Governor, SBP Jameel Ahmad … Read more
KARACHI: The State Bank of Pakistan will announce the new monetary policy for the next two months on Monday (tomorrow). According to the SBP sources, the Monetary Policy Committee would convene in Karachi to assess economic statistics before deciding whether to raise or lower interest rates. The State Bank’s current policy rate is 22 per … Read more
China’s economy grew just 0.4%, Analysts do not expect a rapid recovery as China sticks to its tough zero-COVID policy. The country’s property market is in a deep slump and the global outlook is darkening. China’s monetary policy has adequate room and adequate devices, including further cutting banks’ hold necessities, to adapt to new difficulties … Read more
The IMF blatantly ignored the rising inflation in its statement on the occasion of reaching a staff level agreement with Pakistan. The accumulation of circular debt of Rs850 billion has shocked policymakers and set off alarm bells. Overall, there are signs that Islamabad may secure $10 billion in dollar loans from multilateral creditors. The IMF … Read more
The yen fell to its lowest level versus the dollar since 1998 on Monday. Sky-high US inflation drives a growing monetary policy divide between Japan and the US. The Bank of Japan has said it will stick with its long-standing monetary easing programme. On Monday, the yen fell to its lowest level versus the dollar … Read more
The U.S. Monetary outlook is dimming and a downturn could be on the horizon as the Federal Reserve moves to tame the most updated inflation in four decades, in line with Fannie Mae economists. The mortgage lender said in a brand new economic and housing forecast that the economic system faces a “modest recession” in 2023 … Read more
KARACHI: The State Bank of Pakistan (SBP) has maintained the GDP growth forecast up to 5 per cent for the fiscal year 2021/22, the central bank stated in a review released on Thursday. The forecast is in line with the government’s target of 4.8 per cent and higher than last year’s provisional growth of 3.9 … Read more
KARACHI: The State Bank of Pakistan (SBP) on Tuesday decided to maintain the key policy rate at 9.75 per cent for the next two months. The central bank in a statement said the decision reflected the Monetary Policy Committee’s (MPC) view that the outlook for inflation has improved; following the cuts in fuel prices and … Read more
KARACHI: The State Bank of Pakistan (SBP) is likely to consider the repercussions of high prices of oil and other commodities in the international markets, while announcing the monetary policy, which is scheduled for March 8, 2022. The SBP announced the first inflationary pressureof this year on January 24, 2022 and kept the key discount … Read more
FRANKFURT: German inflation rose again in February, official data showed on Tuesday, as the crisis in Ukraine added to fears that energy prices could keep inflation in the eurozone higher for longer. Consumer prices rose by 5.1 per cent annually in February, according to the federal statistics agency Destatis, after the pace slowed in January … Read more
NEW YORK: Federal Reserve vice chair Richard Clarida announced on Monday he will exit the US central bank early; following questions over his equity trading activity early in the Covid-19 pandemic. Clarida, whose term on the Board of Governors was set to expire on January 31, will instead resign on January 14. He gave no explanation … Read more
KARACHI: The rupee ended firmer at Rs178.04 against the dollar on Monday, amid higher foreign currency demand for import and corporate payments, dealers said. The rupee ended at Rs178.04, which is the same closing of December 17, 2021, in the interbank foreign exchange market. The present exchange rate is the lowest level of the rupee … Read more
HONG KONG: The Asian and European markets rose on Thursday and the dollar held gains after the Federal Reserve laid out a more hawkish path by speeding up the taper of its pandemic financial support and indicated a number of interest rate hikes over the coming years. While the much-anticipated decision spells an end to the … Read more
KARACHI: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has proposed that the State Bank of Pakistan (SBP) should not further increase the monetary policy rate, as it can result in stagflation and adverse effects on industrial growth, a statement said on Friday. FPCCI president Mian Nasser Hyatt Maggo said that the use … Read more
DOHA: Qatar has approved its budget for the 2022 fiscal year, Arab News quoted the country’s Minister of Finance Ali Al Kuwari said in a press conference. Revenues are expected to amount to 196 billion riyals ($53.8 billion), a 22.4 per cent rise compared to last year’s budget estimates, Asharq reported. Estimates for the budget were made while assuming … Read more
KARACHI: The State Bank of Pakistan (SBP) on Monday clarified media reports over its stance on the recently announced monetary policy. The SBP said that over the last few weeks, certain sections of the media, including op-eds have expressed concerns over the actions of the State Bank of Pakistan, particularly regarding the monetary policy decisions … Read more
KARACHI: The State Bank of Pakistan (SBP) on Monday clarified news reports related to average inflation forecasts. The SBP said that in some sections of the media, SBP’s average inflation forecast of 7-9 per cent in FY22 is being interpreted as the ‘inflation target’ and being compared to the inflation targets of other countries. This … Read more
FRANKFURT — The European Central Bank (ECB) must not rush to tighten its monetary policy since the elevated inflation rates look transitory, the bank’s President, Christine Lagarde, told the Frankfurt European Banking Congress on Friday. Speaking via video link, Lagarde stressed that the ECB’s monetary policy should be kept consistent to facilitate the return of … Read more
Main European stock markets dropped in opening deals on Monday after a spiteful selloff in Asia, as doubts raised over a likely downfall of debt-laden property giant China Evergrande. London’s benchmark FTSE 100 index lost 1.0% to 6,894.33 points, associated with Friday’s closing level. In the eurozone, Frankfurt’s DAX 40 fell 1.9% to 15,202.28 on … Read more
KARACHI: The State Bank of Pakistan (SBP) on Monday announced a 25 basis points increase in the key policy rate to 7.25 per cent. The central bank said the Monetary Policy Committee (MPC) in its meeting decided to raise the policy rate by 25 basis points to 7.25 per cent. Since its last meeting in … Read more
KARACHI: A monetary policy survey, conducted recently prior to the State bank of Pakistan’s Monetary Policy Committee (MPC) meeting later this month, conducted by the Policy Research Unit (PRU), Policy Advisory Board, FPCCI has recommended a reduction in the policy rate by 50 to 100 basis points. The survey results show that 84 per cent … Read more
KARACHI: The Pakistan stocks witnessed a volatile session on Tuesday ahead of the monetary policy announcement later in the day; wherein, the index made an intraday high of +237 points and a low of -56 points to finally close flat, dealers said. An analyst at Pearl Securities said the volatility continued at the bourse where … Read more
KARACHI: As per the market expectations, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) on Tuesday kept the key policy rate intact at 7 per cent for the next two months. Recently Topline Research conducted a poll of key financial market participants regarding monetary policy. A total of 62 participants took … Read more
The country’s current account has been showing a monthly deficit since December 2020, but in the first 10 years of the fiscal year 2020-2021, it remained at a surplus of $773 million, reflecting additional support for remittances and exports. According to the report, the latest State Bank of Pakistan (SBP)’s data show that the current … Read more
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has decided to maintain the policy rate at 7% for the next two months. According to a statement from the central bank, growth and employment have recovered since the last meeting in January and business confidence has improved further. The statement said that … Read more
The State Bank of Pakistan (SBP) says that the central bank’s reserves increased by $90 million in one week, after which the foreign exchange reserves increased to more than $12.9 billion. According to the details, the SBP said that the foreign exchange reserves of the central bank increased to more than $12.9 billion, while the … Read more
The State Bank of Pakistan (SBP) has announced that the current account deficit has decreased to $229 million from US$652 million last month. The SBP Tweeted, “In January 2021, current account deficit reduced to $229mn from $652mn last month. For the first 7 months of FY21, the current account surplus is $912mn, a significant turnaround … Read more
