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06-28-2016, 03:12 AM
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Market expects policy rates to remain stable in 2016
KARACHI: The Market expects the policy rates to remain in the range of 5.5 percent to 5.75 percent during the rest of 2016 as the interest rates in the country have bottomed out, a brokerage survey said on Monday.
Topline Securities in its survey said around 82 percent of the participants expect the State bank of Pakistan to keep policy rate unchanged at 5.75 percent, whereas the remaining 18 percent believe there could be a**ther cut of 25bps. Bankers, fund managers and eco**mists participated in the survey. “The survey results were indicative of the overall improved macro eco**mic outlook where major participants expected interest rates to remain stable,” said Saad Hashmey at Topline Securities. “In other words, interest rates in Pakistan have bottomed out **w as even further reduction of 25bps is **t significant”. Hashmey said the participants also ruled out any chances of rate hike in 2016. These interest rates are at historic lows as during last 15 years, interest rates have averaged 10 percent. Moreover, inflation in the fiscal year 2016 is expected to settle below three percent, significantly lower than the government target of 6.0 percent. “Further, other macros have also improved significantly during the year. GDP is expected to grow at 8-year high of 4.7 percent in FY16, while foreign exchange reserves of the country are **w expected to touch all time high of $22 billion,” he added. To recall, SBP cut policy rate by 25bps to 5.75 percent in the last monetary policy in May 2016 highlighting improving macros and low inflation numbers as key factors behind the policy decision. “We are maintaining our view of reduction in policy rate of up to 50bps in 2016, which means that a further 25 basis point cut is expected during the year,” Hashmey said. أكثر... ??????? ??????: Market expects policy rates to remain stable in 2016 || ??????: ahlam1399 || ??????: اسم منتداك
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