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State Bank of Pakistan

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…

SBP to announce bi-monthly new monetary policy tomorrow

KARACHI: The State Bank of Pakistan (SBP) would announce its decision with regard to its monetary policy for coming two months on Thursday (tomorrow), the bank announced in a statement. The Monetary Policy Committee (MPC) of the central bank will meet tomorrow in Islamabad. After the meeting SBP Governor Tariq Bajwa will unveil the Monetary Policy in a press conference in the capital city. Some economic analysts expect further 50 to 100 basis points hike in interest rate by the central bank at its bi-monthly interest…

Reserves down by $170mn in a week due to external debt-servicing, imports

KARACHI: The State Bank of Pakistan in its weekly report on foreign exchange reserves has reported a decline of $170mn in the reserves, primarily because of payments in lieu of external debts and other payments including imports.  On December 21, 2018, the reserves held by the central bank stood at $7.457bn whereas the forex reserves available with the commercial banks were at $6.560bn level. However, due to debt-servicing and other payments amounting up to $170mn, the SBP reserves on December 28 2018 came down to…