Archive for January 23rd, 2023

Central Bank Watch

Pakistani Central Bank Rate Increased to 17%

January 23, 2023

The State Bank of Pakistan‘s policy rate has been raised a full percentage point to a 24-year high of 17.0%. That’s 10 percentage points above the pandemic low of 7% that prevailed from June 2020 until an initial 25-basis point hike in September 2021. The previous rate hike in November was also by a full […] More

New Overnight Developments Abroad - Daily Update

Lunar New Year Holiday Quells Monday Financial Market Activity

January 23, 2023

Financial markets in China will be shut all week for the Lunar New Year holiday that ushers in the Year of the Rabbit. Hong Kong, Taiwan, Indonesia, Malaysia, Singapore, South Korea, and Vietnam are also closed today. The euro touched a nine-month high overnight of $1.0923 but subsequently settled back under $1.09 to a net […] More