State Bank of Pakistan injects Rs 9.5 bln into banking Sector
Pakistan Times Business & Commerce Desk

KARACHI: The State Bank of Pakistan injected Rs 9.5 billion into the banking sector on basis of three points extra per cent rate.

Confronted with low balance, the banking sector expressed their interest to borrow Rs 22.5 billion on 8.83 to 8.92 per cent rate.

However, the SBP provided Rs 9.5 billion for five days.

Today’s this operation pushed up the interest level to 8.9 per cent record height, up from previous 8.87 per cent rate.

In the last quarterly report for FY 2006, the central bank has indicated that it intended to bring the interest rate down close to discount rate on long-term debt loans.●