Karachi November 28 2024: Pakistan lending benchmark, 6-Month KIBOR, has declined by almost 1,200 basis points from its peak, according to data provided by the State Bank of Pakistan.
6-Month KIBOR dropped from its all-time high of 24.71 percent hit on September 13, 2023, to 12.88 percent on November 28, 2024 on anticipation of rate cuts amid declining inflation.
State Bank of Pakistan is scheduled to announce next monetary policy on 16th of next month. The central bank has already cut policy rate by 700 basis points this year so far.
“In the coming months, fiscal consolidation and contained inflation will provide impetus to economic activities” states Ministry of Finance.
“The real sector of the economy continues to get support from agriculture and industrial sector policies” states Ministry.
Earlier in the day Pakistan Stock Exchange key index KSE-100 reported closing above 100,000 level for the first time.
