Bulls on the ladder as inflation eases amid hopes of rate cut
Business
The trading on Thursday closed at 108,322 points
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) continued its record run on the last day of trade as it crossed 109,000 points after gaining more than 1100 points amid hopes of cut in policy rate due to declining inflation in the country.
It comes amid high-flying expectations that the State Bank of Pakistan (SBP) would further decrease the key policy rate. The Monetary Police Committee (MPC) of the central bank is set to meet on Dec 16.
The trading on Thursday closed at 108,322 points.
The hopes for cut in policy rate were fuelled by a significant decline in inflation rate in Pakistan as it was recorded at 4.9 percent in November, the lowest reading in the six and half years.
The Pakistan Bureau of Statistics said the inflation in October this year was 7.2pc.
The lower inflation rate is likely to result in more monetary easing, leading to further decline in cost of capital for businesses and industries.
