Govt raises Rs900bn, cuts T-bill yields |
KARACHI: Cut-off yields on treasury bills were slashed by up to 79 basis points at the auction held on Wednesday, with the government raising over Rs900 billion.
This was the first T-bills auction after the State Bank of Pakistan’s Monetary Policy Committee cut the benchmark interest rate by 50bps to 10.5pc from 11pc. The policy rate had remained unchanged since May........