Tuesday, May 25, 2010

State Bank annoucement

The State Bank of Pakistan announced Monday that interest rate will remain unchanged at 12.5 % for near term.
Despite sings of modest recovery, the State Bank policy statement was skeptical because the economy lacks the necessary infrasturcture and sufficient macroeconomic stability to build on the momentum.
Traders dealt with the situation by readjusting their equity portfolios in accordance with the presribed limits while the possible buyers holding back to trim down their holdings at available rates.

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