New Monetary Policy Announced: Discount Rate Cut by 50 Basis Points. State Bank
Linkedin

New Monetary Policy Announced: Discount Rate Cut by 50 Basis Points. State Bank

Islamabad : Pakistan | Oct 05, 2012 at 12:27 PM PDT
XX XX
Views: Pending
 

New Monetary Policy Announced: Discount Rate Cut by 50 Basis Points. State Bank

The State Bank of pakistan has announced the new monetary policy for the next two months.

Discount rate Cut by 50 basis points from 10.50% to 10%.

Stock Market is witnessed Up trend as the experts were anticipating a 50 to 100 basis points cut in the interest rates by the board of directors of the central bank.

Former caretaker finance minister Dr Salman Shah had said that food inflation and growing fiscal deficit remain major risk for the central bank to maintain price stability, therefore, it is expected that it would keep status quo in the upcoming monetary policy statement.

The State Bank had cut down its benchmark interest rate by 150 basis points to 10.5 percent for August-September And for the next month a cut of 50 basis points is announced.

atifji75 is based in Siālkot, Punjab, Pakistan, and is an Anchor on Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 
  • SBP announces monetary policy; interest rate reduced by 50 basis pts

    The State Bank of Pakistan (SBP) on Friday announced the monetary policy for the next two months and decided to reduce the interest rate by 50 basis points bringing it to 10 per cent, DawnNews reported. An official of the SBP said that the central...
  • Big three cut rates less than RBA

      Australian Broadcasting Corporation
    Westpac has joined NAB and the Commonwealth Bank in passing on some of the Reserve Bank's interest rate cut. NAB announced earlier this afternoon that it will lower its standard variable mortgage rate by 20 basis points, effective from Monday, rather...
  • Big banks fail to pass on full RBA cut

      Sydney Morning Herald
    The central bank cut the cash rate by 25 basis points to 3.25 per cent on Tuesday, sparking calls from politicians, interest groups and retailers for the major banks to pass on the reduction in full to mortgage customers. NAB was the first major bank...
  • NAB cuts rates by 20 basis points

      The Daily Telegraph
    Australia Bank has cut its interest rates by 20 basis points, which is less than the latest cut by the Reserve Bank of Australia (RBA). NAB will cut its standard variable interest rate on home loans to 6.58 per cent, saving $50 per month on...
  • Pakistani stocks end lower; rupee weakens; o/n rates rise

    Pakistani stocks closed lower on Friday as investors booked profits after speculation that there would not be a high cut in interest rates.   The central bank announced its monetary policy decision today with 0.5 per cent interest rate cut to 10.00...

Blogs

 >
  • Monetary policy digest: Google Alert - policy monetary

      monetary-policy-digest-en.blogspot.com
    The State Bank of Pakistan (SBP) on Friday announced the monetary policy for the next two months and decided to reduce the interest rate by 50 basis points bringing it to 10 per cent. The State Bank of Pakistan (SBP) released its monetary ...
  • KARACHI STOCK EXCHANGE-DAILY MARKET TREND: STOCK ...

      dailystockmarketrend.blogspot.com
    A majority of analysts are expecting a cut of 100 basis points in the State Bank of Pakistan's policy rate, after a cut of 150 basis points in August. ... The financial experts' anticipation about Central Bank likely to lower the discount

More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.