KIBOR Rates Decline Following Monetary Policy Announcement

KIBOR rates declined by 4-137 basis points (bps) across all tenors on Tuesday following the central bank’s move to cut the key interest rate by 250 bps a day earlier.  According to the State Bank of Pakistan (SBP) data, the 6-month KIBOR clocked in at 13.29 percent.  The other widely used 3-Month KIBOR was down 16 bps to 13.71 percent. The 1-year KIBOR slid by 8 bps to 13.09 percent.  The 1-Week KIBOR dropped 137 bps to settle at 15.47 percent.