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SBP

SBP increases interest rate to 13.25pc

- Pakistan’s central bank raised its main policy rate by 100 basis points on Tuesday to 13.25%, citing increased inflationary pressures and a likely near-term rise in prices from higher utility costs. The increase follows this month’s…

IMF approves $6 billion loan for Pakistan

WASHINGTON: The International Monetary Fund on Wednesday approved a $6 billion, three-year loan for Pakistan to try to right the South Asian nation's economy. With the IMF board's approval, the fund released $1 billion to Pakistan…

New SBP boss dismisses free floating rupee idea

Pakistan’s new central bank governor Reza Baqir on Monday dismissed the idea of a free floating rupee as he outlined reforms aimed at ending instability in the South Asian economy. Baqir was last month appointed to lead the central bank…

Policy rate increased by 150 bps to 12.25%: SBP

KARACHI: The State Bank of Pakistan raised its key interest rate by 150 basis points to 12.25 percent on Monday over inflationary pressures, a high fiscal deficit, and recent exchange rate depreciation. "Taking into account the above…

Dr Reza Baqir becomes new SBP Governor

ISLAMABAD: Dr Reza Baqir – an IMF economist, has been appointed as the Governor of State Bank of Pakistan in a major reshuffle on key economic economists. "The President of Pakistan is pleased to appoint Dr Reza Baqir as Governor State…

PTI govt ousts SBP, FBR chiefs

ISLAMABAD: The governor of State Bank of Pakistan Tariq Bajwa has tendered his resignation after being asked by the federal government to vacate his post, a media report said. Geo News quoted a source as saying Bajwa was removed as the…

Pakistan to announce monetary policy decision Friday

KARACHI: The State Bank of Pakistan will announce its latest monetary policy decision on March 29, the central bank said in a statement on Wednesday. The announcement will be made in a news release. The central bank raised its key policy…