Author: Anum Qudsia Siddiqui
Moody’s places top five Pakistani banks’ ratings under review for downgrade
Moody’s has placed Pakistan top 5 Banks(HBL, NBP, UBL, MCB, & ABL) on review for downgrade the B3 long-term local-currency deposit ratings, foreign currency deposit ratings and baseline credit assessments. The rating actions were followed by Moody’s decision to place the Government of Pakistan’s B3 issuer and senior unsecured ratings on review for downgrade on… Continue reading Moody’s places top five Pakistani banks’ ratings under review for downgrade
Daily news:20th May 2020
Good Morning Total provisional external inflows from multiple financing sources were $7.381 billion during July-April of fiscal year 2019-20 against the budgeted amount of $12.958 billion for the entire fiscal year which is around 57 percent of the budgeted amount. In a landmark achievement, Power Energy Sukuk-II of Rs200 billion is heavily oversubscribed by an amount… Continue reading Daily news:20th May 2020
Daily news:19th May 2020
Good Morning Adviser to the Prime Minister on Economic Affairs Abdul Hafeez Sheikh Monday said the government would not introduce any new tax in the coming budget. The government has decided to announce budget for 2020-21 in the Parliament on June 12, 2020, The News has learnt. Multinational companies have continued to inject fresh investment into ongoing… Continue reading Daily news:19th May 2020
KASB Ray of hope: The spring of hope
• While the return to normal can only come once the vaccine is widely available, most statistics show that the lockdowns have been able to bring the situation in control across the world. Over the past 24 hours, new infections only increased by 0.9% – the lowest increase since late Feb and the first time… Continue reading KASB Ray of hope: The spring of hope
Daily news:18th May 2020
Good Morning The SPI inflation during the week that ended May 14, 2020 against May 16, 2019 – Year-on-Year basis – recorded an increase of 9.26 percent for combined income groups, ie, from 116.52 points to 127.31 points, the Pakistan Bureau of Statistic (PBS) revealed. The Monetary Policy Committee (MPC) of State Bank of Pakistan (SBP)… Continue reading Daily news:18th May 2020
SBP cuts Interest Rates by 100 bps: 13.25% to 8%
From hawks to doves. SBP has demonstrated an inverted U curve with a 525 bps cumulative cuts. More prominent is “economic growth” over “inflation-targeted” Monetary Policy. Textbook monetary policies are out-dated. What’s relevant is the heart-beat of the economy; businesses survival. Ensuring “liquidity” issues don’t turn into “solvency” issues. Loss of jobs is in colossal… Continue reading SBP cuts Interest Rates by 100 bps: 13.25% to 8%
Daily News:15th May 2020
Good Morning The foreign exchange reserves held by the central bank decreased 0.48% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On May 8, the foreign currency reserves held by the SBP were recorded at $12,270.7 million, down $59 million compared with $12,329.4 million in the… Continue reading Daily News:15th May 2020
FX Reserve Position-8th May 20
A 50bps cut likely in upcoming MPS
The State Bank of Pakistan (SBP) has scheduled a Monetary Policy Meeting on May 15’20. We anticipate a 50bps cut in interest rates, bringing the policy rate down to 8.50%. As the economic landscape has shifted away from stabilization and moved towards recovery, we believe sustained monetary easing synergizes with the prevalent fiscal stance. Benign… Continue reading A 50bps cut likely in upcoming MPS
