KARACHI: KIBOR rates across all tenors declined with decreases ranging from 2bps to 40bps on DoD basis on Thursday. According to AHL Research, 3-month, 6-month and 9-month rates dropped to their 18-month low at 19.16 percent, 18.91 percent and 18.63 percent, respectively. One-year KIBOR too closed at 19-month low, settling at 18.08 percent.6-months KIBOR fell by 37bps.

The decline in KIBOR rates, along with the drop seen in Wednesday’s government of Pakistan Market Treasury bills cut-offs, indicates that the market is anticipating a further reduction in the policy rate in the upcoming monetary policy meeting scheduled for Sept 2024.

Copyright Business Recorder, 2024