KIBOR climbs as SBP raises policy rate to 12%
Mettis Global • • 1 min read
Mettis Global reported that KIBOR rose on October 29, with the largest daily increases in longer tenors, following the SBP’s 50-basis-point policy-rate increase to 12%. The one-year rate added 23 basis points to 12.54% bid and 13.04% ask, while the three-month rate gained 21 basis points to 12.19% bid and 12.44% ask.
Rates for six and nine months advanced by 18 and 17 basis points, respectively, while weekly, fortnightly and monthly rates moved up by just 1 to 3 basis points. The Monetary Policy Committee said the policy move was intended to contain inflation pressures and keep inflation within its 5-7% target range. September headline inflation was 10.3% year-on-year, and core inflation was around 8.4%.
At a glance
- The one-year KIBOR rose 23 basis points to 12.54% bid and 13.04% ask.
- The SBP increased its policy rate by 50 basis points to 12%.
- September headline inflation reached 10.3% year-on-year.
Originally reported by Mettis Global
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