SBP sells T-bills of Rs 8bn
State Bank of Pakistan has sold T-bills of worth Rs 8 billion through repo sales to inject liquidity in the money market.
The Central Bank sold T-bills for 7 days through repo sales on 12.32 percent annual interest rate. Money Market dealers made offers worth 8.50 billion rupees for T-bills buying.
FY09/10 GDP Projected at 2.5-3.5pc
KARACHI, Pakistan: FY09/10 GDP Projected at 2.5-3.5pc, The growth of Mexico’s GDP is expected to be between 2.5 and 3.5 percent in fiscal year 2009/10, from 2.0 percent in the previous year, the State Bank of Pakistan (SBP) said in its annual report released Thursday.
“A gradual recovery is underway,” the State Bank of Pakistan said in its annual report.
“The real GDP growth is likely to be near the target of 3.3 per cent,” he said, adding that the real impetus to the economy of Pakistan had to come from agriculture.
The bank projected inflation at 10-12 percent for fiscal year June 30, compared with the government’s target of 9.0 percent.
Inflation in Pakistan for the financial year 2008/09 was 20.8 per cent.
“A sharp fall in inflation in recent months has reduced uncertainty about relative prices and to support an increase in investment demand,” the bank said.
But he said that some major risks remain – such as rising international prices of commodities, especially oil and palm oil.
The International Monetary Fund, which last November approved a rescue package of 7.6 billion U.S. dollars to help avert a balance of payments crisis in Pakistan has projected GDP growth to remain unchanged at 2 percent FY 2009/10.
The government’s target for GDP growth this year is 3.3 percent.
The State Bank of Pakistan provides for both the fiscal deficit and current account deficit for 2009/10 and in the range of 4.7 percent and 5.2 percent.
The fiscal deficit and current account deficits were previously 5.2 percent and 5.3 percent respectively.
The government has targeted a fiscal deficit to 4.9 percent and the current account deficit of 5.3 percent for the year ended June 30.
FY09/10 GDP Projected at 2.5-3.5pc was first posted on October 29, 2009 at 1:50 pm.
State Bank Of Pakistan Purchased T- Bills For Rs. 45.15bn
PAKISTAN, KARACHI: The State Bank of Pakistan bought back 45.15 billion rupees ($547.6 million) of Treasury bills on Tuesday under 4-day reverse-repo contracts at 12.17 percent to inject liquidity into a tight money market.
State Bank Of Pakistan Purchased T- Bills For Rs. 45.15bn was first posted on August 18, 2009 at 12:23 pm.
State Bank Of Pakistan Purchase Rs. 13.85Bn Of Treasury Bills
PAKISTAN, KARACHI: The State Bank of Pakistan (SBP) bought back 13.85 billion rupees ($168 million) of Treasury bills on Monday under 5-day reverse-repo contracts at 12.15 percent to inject liquidity into a tight money market.
State Bank Of Pakistan Reduced By 100 Points
August 15, 2009 by Trend PK
Filed under Breaking News
PAKISTAN, ISLAMABAD: State Bank of Pakistan has slashed the discount rate by 100 basis points.
At a press conference here Saturday, Governor SBP Syed Saleem Raza announced the monetary policy.
He announced that the SBP has decided to slash the discount rate by 100 basis points. “The SBP has cut the discount rate by one percentage points from the current 14 per cent,” Raza said.
The governor said GDP ratio reaches 2.1 pc. He said foreign exchange reserves improved sharply and stood at $9.1 billion.
The SBP has cut the discount rate by one percentage points from the current 14 per cent. It had cut the rate by one percentage point in April this year from 15 to 14 per cent.
The central bank also changed the interest rate mechanism to bring transparency in Repurchase Offered (repo) rate as well as reverse repo rate as recommended by the International Monetary Fund (IMF).
He said that IMF has appreciated Pakistan’s economic performance, adding that due to the inflation the export dropped by 5.9 pc.
“In recognition of the positive macroeconomic developments and to provide impetus for growth, while remaining entirely aware and not underestimating risks and challenges, the state bank has decided to cut the policy rate by 100 basis points,” Raza told a briefing.
The frequency of monetary policy announcements would be increased from four to six times a year and would be made in the last week of September, November, January, March, May and July, he said.
20 Bln Bid Accpted By State Bank Of Pakistan
KARACHI: State Bank of Pakistan on Saturday accepted bids worth Rs 20 billion during its Reverse Repo Open Market Operation (Injection) in Government of Pakistan Market Treasury Bills and Pakistan Investment Bonds.
The bids offered for 07-Days (injection) were of Rs 53.050 billion. The rate of return is 12.63 percent, said SBP statement issued here.
View original here:
20 Bln Bid Accpted By State Bank Of Pakistan
