Syeda Mubeena Hashmi Posted in Business
ISLAMABAD: Pakistan’s central bank faces a difficult decision on its policy rate amid rising inflation and higher global fuel prices linked to the prolonged Gulf conflict. The current rate stands at 11.5 per cent, with bankers expecting no change while some analysts foresee a 50-basis-point increase. Inflation rose to 11.1pc in August, adding pressure on the State Bank. Read More…
0 CommentsAlina Hashmi Posted in World
Mexico’s central bank has cut its benchmark interest rate following a split vote, as uncertainty from the US-Israel war on Iran continues to rattle global markets. Minutes from the Bank of Mexico’s May meeting showed a 3-2 decision, with policymakers warning the conflict is pushing up inflation risks. All five members flagged the war as a source of upward pressure on prices, though most said the direct impact on Mexico remains limited. Read More…
0 CommentsAlina Hashmi Posted in World
The European Central Bank has kept its key interest rate on hold, warning that risks to growth and inflation have “intensified” due to the war. For the 21 countries that use the euro, the central bank left its benchmark deposit rate at 2 percent, where it has been since June 2025. Read More…
0 CommentsHafsa Mustafa Posted in Business
Pakistan has ‘decided’ against taking loans from commercial bank at higher interest rate. As per sources, the finance ministry has decided not to proceed with borrowing from a commercial bank at an 11% interest rate. Prime Minister Shehbaz Sharif reportedly directed the finance minister to avoid taking expensive loans. Although an agreement had been made with commercial banks for a loan at 11% interest, the government has now decided not to take the funds. In case of a financing gap, loans will be sought from other sources at lower interest… Read More…
0 CommentsHafsa Mustafa Posted in Business
Oil prices jumped Monday over escalating Middle East tensions while stock markets wavered after getting a boost last week from talk of a US interest rate cut. The price of Brent, the global crude benchmark, rose 3.0 percent to trade at more than $81 per barrel. Stock markets were mixed, taking a breather after rising on Friday when US Federal Reserve chief Jerome Powell signaled that a rate cut was coming. Read More…
0 CommentsAlina Hashmi Posted in Business
The European Central Bank raised its benchmark interest rate by 0.25 percent to 3.5 percent on Thursday. At 3.5 percent, the ECB's deposit rate is now at its highest level in 22 years. "Inflation has been coming down but is projected to remain too high for too long," ECB president Christine Lagarde said. Read More…
0 CommentsHafsa Mustafa Posted in World
China’s central bank on Thursday cut a key interest rate and injected $33 billion into financial markets in a bid to boost flagging growth in the world’s second-largest economy. The medium-term lending facility (MLF) rate, the interest for one-year loans to financial institutions, was lowered 10 basis points to 2.65 percent, the People’s Bank of China said in a statement. Read More…
0 CommentsAlina Hashmi Posted in Business
Karachi: Assuming record high markup cost due to high interest rate, the coalition government is likely to present a Rs. 13-15 trillion budget for the fiscal year 2023-24. The report said that the government was expected to set the target of Rs. 9-9.2 trillion for the fiscal year 2023-24, up 21% from the target of Rs. 7.5 trillion set for the current fiscal year. “This uncertainty on financing US dollar funding gap is creating nervousness in currency, bond, and stock markets,” the report said. Read More…
0 CommentsHafsa Mustafa Posted in Business
State Bank of Pakistan (SBP) is likely to raise the interest rate by 2 per cent at the upcoming meeting of the Monetary Policy Committee (MPC) to unlock the stalled IMF loan program. The staff-level agreement between the International Monetary Funds (IMF) and Pakistan was scheduled to take place on February 9. Read More…
0 CommentsAlina Hashmi Posted in World
The Bank of England (BoE) raised interest rates for the 11th consecutive time on Thursday. The move followed a surprise rise in inflation which dashed hopes prices would continue to drop. Policymakers on the BoE's Monetary Policy Committee (MPC) voted seven to two to increase rates from 4 percent to 4.25 percent. Read More…
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