The 6-Month Karachi Inter-Bank Offered Rate (KIBOR), a benchmark for lending to consumers and businesses, increased by 2bps on a day-on-day (DoD) basis on Tuesday to touch an all-time high amid rising borrowing costs.
According to the State Bank of Pakistan (SBP) data, the KIBOR clocked in at 17.82 percent. This is an all-time high figure according to data from Arif Habib Limited.
— Arif Habib Limited (@ArifHabibLtd) January 24, 2023
The other widely used 3-Month KIBOR was down 2bps and was recorded at 17.74 percent. The 1-year KIBOR remained unchanged and stood at 18.12 percent.
The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) on Monday raised the policy rate by 100 basis points to 17.0 percent from 16 percent, the highest rate in 25 years.