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Inflation rate to drop further in Pakistan

  • 2 min
The Ministry of Finance's monthly economic report forecasts a further decrease in Pakistan's inflation rate, which is anticipated to range between 13.5% and 14.5% in May. The report highlights ongoing negotiations with the IMF for a new loan program, emphasizing its importance for stable policies and increased investment. Additionally, the report notes a 6.25% increase in agricultural production and emphasizes the importance of consistent policies for economic stability. Weekly inflation, as measured by the Sensitive Price Indicator, has seen a sixth consecutive decrease, with price fluctuations observed across various items.
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Turkey central bank keeps key interest rate unchanged

  • 2 min
Turkey's central bank has maintained its key interest rate at 50 percent for the second consecutive month, despite the country grappling with surging inflation. The bank remains vigilant of inflation risks and is poised to tighten monetary policy if needed. The government has also announced a three-year austerity plan to curb public spending and combat inflation.
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Gold firms on hopes for Fed rate cut in June

  • 3 min
Gold prices edged higher as hopes for a Fed rate cut in June and a weaker dollar boosted bullion's appeal. Spot gold rose 0.1% to $2,166.39 per ounce, with U.S. gold futures up 0.4% to $2,167.70. Traders anticipate a 74% probability of rate cuts in June, with expectations shaped by upcoming U.S. core PCE price index data.
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SBP holds interest rate at 22pc

  • 1 min
The State Bank of Pakistan (SBP) has decided to maintain its benchmark interest rate at 22 percent. The Monetary Policy Committee (MPC) made the announcement after noting higher than anticipated inflation due to a gas price hike. However, the MPC also considered offsetting factors such as a recent decrease in international oil prices and improved agricultural output. - Khabristan.PK
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Dollar Price Crashes Against Pakistan Rupee in Open Market, Latest Rate Here

  • 1 min
According to recent reports from Hum News, there has been a significant decline in the exchange rate between the US dollar and the Pakistani Rupee in the open market, with the rate now standing at 302 Rupees per US dollar. This noteworthy drop in the value of the US dollar against the Pakistani Rupee represents a significant development.