State Bank of Pakistan

More Central Bank Rate Hikes in Pakistan, Israel, and Ghana

May 23, 2022

In all of these instances, tightening interest rate cycles inspired by accelerating inflation had begun prior to today’s moves. There have been five increases of the State Bank of Pakistan‘s policy interest rate since September 2021, when the rate was raised 25 basis points from 7.0% to 7.25%. hikes followed of 150 basis points in […] More

Pakistani and Russian Central Bank Interest Rates Undergo Big Changes in Opposite Directions

April 8, 2022

The latest batch of central bank interest rate decisions includes a 250 basis point hike in the State Bank of Pakistan’s policy rate to 12.25%. The decision was made at an emergency unscheduled meeting, accompanied by an upwardly revised 11% projected rate of inflation this year, and explicitly intended to restore a premium between the […] More

More Bad Inflation News and a Diversity of Central Bank Decisions

April 8, 2022

The dollar continued to trade at historically firm levels overnight. The weighted DXY dollar index is up 0.1% and touched another multiyear high of 99.99. Gains of 0.5%, 0.3% and 0.2% were made against the New Zealand, Australian and British currencies, but the greenback dipped 0.2% versus the Russian ruble. Asian stock markets made modest […] More

Dollar Marking Time as Two-Day FOMC Meeting Commences

December 14, 2021

The dollar remained unchanged on balance overnight against the euro, Swiss franc, kiwi, yuan and versus its weighted DXY index. The greenback ticked 0.1% higher relative to the yen and loonie and 0.1% lower vis-a-vis sterling. A two-day meeting of the FOMC began in which policymakers are expected to accelerate previously signaled plans to taper […] More

State Bank of Pakistan’s Policy Interest Rate Cut for Fourth Time in Space of Two Months

May 15, 2020

Pakistan’s key central bank rate was at 13.25% as recently as March 16 but now falls to 8.0%, thanks to two reductions in March totaling 225 basis points, a third cut of 200 bps a month ago and a fourth announced today by the Monetary Policy Committee of 100 basis points after an emergency meeting. […] More

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