Interest rate hiked to 13.25pc, highest in eight years

Dawn | Jul 17, 2019 at 7:01 AM
  • In a tightly worded statement, the State Bank of Pakistan on Tuesday announced a hike of one percentage point in the key policy discount rate.
  • On inflation too, the SBP projected the Consumer Price Index to rise to 11-12pc by the end of the fiscal year, lower than 13pc projected in the budget.
  • All eyes now turn to the latest auction of Treasury Bills scheduled for Wednesday (today), since all previous auctions for almost a year and a half have seen weak participation by the banks.