This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Pakistan Cuts Rates by 150bp, First in 4 Years
June 11, 2024
Pakistan cut its target interest rate by 150bp to 20.5%, much more than expectations of a 100bp cut. This comes after inflation slowed more than expected in May. Besides, the inflation measure eased for the fifth consecutive month after domestic food supplies improved and fuel costs fell. Pakistan’s central bank had kept interest rates at 22% since June 2023 to keep a lid on overall prices. Pakistan is currently negotiating a fresh loan program with the IMF, ahead of about $24bn in debt payments in the next fiscal year.
Pakistan’s 8.25% dollar bond due 2025 is currently trading at 95.21, yielding 12.33%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.