The federal government raised Rs768 billion through a Treasury bills auction, attracting over Rs2 trillion in bids from banks and a provincial government. Highest demand was for one-month papers, suggesting market reluctance for long-term risk or anticipation of an interest rate change in the upcoming monetary policy review. Cut-off yields ranged from 11.35% for one-month to 11.99% for 12-month T-bills. This borrowing pattern, without an interest rate hike, could influence future SBP decisions on monetary policy, potentially impacting USD/PKR stability and local gold prices.
بحوالہ / Source: www.dawn.com