Pakistan
Rupee drops as SBP tackles reserves decline
Pakistani rupee down nearly 4% after central bank triggers “market-driven adjustment”
SBP welcomes ‘visible change’ in government borrowing
Government’s reduced reliance on borrowing from the central bank has supported monetary policy implementation, the State Bank of Pakistan says
SBP notes caveats to decade-high growth
Expansion of Pakistan’s economy continued in fiscal 2017, although the central bank is concerned about a widening current account deficit
Pakistani government picks new governor after SBP spat
Tariq Bajwa takes over from acting governor Riaz Riazuddin; appointment of finance ministry official follows clash over exchange rate movements
SBP clashes with government on exchange rate drop
Pakistan’s finance minister expresses “deep concern” over sudden drop in currency, but central bank says it is now “broadly aligned” with fundamentals
Pakistan growth hits decade high – SBP report
Central bank says high growth, low inflation and solid investment are nevertheless overshadowed by falling exports, which have impacted reserves
Pakistan appoints deputy as interim governor
Governor Wathra not appointed for second three-year term despite reviving the banking sector; Riazuddin appointed for a provisional period of three months until replacement can be found
People: Pakistan and Uzbekistan appoint deputies; Bangladesh Bank names new chief economist
Jameel Ahmad promoted to deputy role at Pakistan central bank; former IMF mission chief appointed as chief economist at Bangladeshi central bank
SBP to work with World Bank on supervisory framework
Deal will see World Bank provide technical assistance on a range of projects as it extends its paid-for advisory services into south Asia
SBP looked to boost staffing and IT capabilities in past year
Annual report details HR, IT and cyber initiatives as part of broader effort to build capacity
State Bank of Pakistan spends $1.2 million on department move
Banking subsidiary to move five of its operations to the northern and central provinces; move will help “streamline” operations, spokesperson says
State Bank of Pakistan sees financial sector ‘flourish’
Financial stability review highlights record after-tax profit and high capital adequacy ratio, as well as improvement in asset quality
Case study: The China-Pakistan Economic Corridor
Countries such as Pakistan stand to benefit enormously from Chinese infrastructure investment as part of the One Belt, One Road policy, writes Habib Bank president and CEO Nauman K Dar
SBP catches markets off guard with cut
State Bank of Pakistan’s MPC votes for rate cut after being split 5-5 in April, confounding markets’ expectations; inflation on the rise
SBP’s Aziz sees renminbi gaining ground in global reserves
Pakistan’s reserves head sees potential for Chinese renminbi to muscle in on the euro and yen’s territory in global reserves, on account of negative interest rates
State Bank of Pakistan reveals first MPC members
Formation of monetary policy committee is part of a broader drive towards independence and inflation targeting; one seat remains unfilled
Pakistan central bank ‘implicitly’ introduced new policy framework ahead of time
State Bank of Pakistan reveals it ‘implicitly’ introduced a new framework for monetary policy before it was officially announced, to avoid ‘unnecessary volatility’ in money market
State Bank of Pakistan overhauling risk management, annual review says
Central bank is looking to improve its risk management approach, with work proceeding on an enterprise risk management system
Pakistan completes shift to new policy rate
New target rate and tighter corridor aims to improve the transmission of monetary policy; central bank slashes rates as inflation continues to fall
State Bank of Pakistan mulls new target rate
New proposals aim to establish a new ‘target rate’ within the existing interest rate corridor; advisory committee on monetary policy will decide whether to adopt them next month
Pakistan targets automated cash management in five years
State Bank of Pakistan aims to automate cash management and urges commercial banks to follow suit; deputy governor says it will help ensure only clean and genuine notes circulate
State Bank of Pakistan slashes rates to decade low
Governor Ashraf Mahmood Wathra strikes upbeat note despite inflation falling significantly below target, as central bank cuts interest rates by 100 basis points
SBP annual report highlights ‘two phase’ year
Pakistan’s economy suffered turbulent spell in 2013, but IMF agreement saw a return to relative stability; central bank praises government for ‘long-awaited’ return to fiscal discipline
SBP annual report highlights year of ‘critical’ changes
Governor highlights major amendments to the State Bank of Pakistan’s operations that are currently being considered by Parliament; accounts show rise in both profits and governor’s salary