Karachi August 15 2022: Pakistan lending benchmark, 6-Month KIBOR, reaches an all time high of 15.97 percent on 15th August 2022 as State Bank of Pakistan set to hold Monetary Policy Meeting on 22nd August 2022.
The previous high was of 15.95 percent hit on yesterday,12th August 2022. Before this upsurge during the mid of last month and this time, 6-Month KIBOR hit high of 15.76 percent on 11th November 2008.
The other most widely used 3-Month KIBOR is recorded at 15.88 percent while 1-year KIBOR registered at 16.31 percent.
Pakistan’s Inflation, increased by 24.9% on year-on-year basis in July 2022 as compared to an increase of 21.3% in the previous month and 8.4% in July 2021, according to data released by Pakistan Bureau of Statistics.
During last Monetary Policy Committee, SBP raised the policy rate by 125 basis points to 15 percent a high of 13 years. In addition, the interest rates on EFS and LTFF loans are now being linked to the policy rate to strengthen monetary policy transmission, while continuing to incentivize exports by presently offering a discount of 500 basis points relative to the policy rate.