Mettis Global’s Post

PKR appreciates by 0.28 rupees or 0.10% against USD to settle at 278.16 in today's interbank session. MTD: 0.37 rupees or 0.13% FYTD: 0.18 rupees or 0.06% CYTD: 3.7 rupees or 1.33%

#SBP boosts transparency measures, eyes $13bn reserves by FY25 In a move to improve transparency and curb speculation, the State Bank of Pakistan (SBP) will release three additional data sets on a half-yearly basis, according to Governor Jameel Ahmed. Read the full story at https://lnkd.in/eqGfkgbX

#SBP’s aggressive rate cut, #IMF deal: A Dual Success Yesterday’s Monetary Policy Committee (#MPC) Meeting gave Pakistan more than just an unexpected rate cut as it assured the implementation of the delayed and deprived $7 billion Extended Fund Facility (EFF) from the International Monetary Fund (IMF). The State Bank of Pakistan (SBP), which was anticipated to slash the policy rate by 150 basis points, decided to cut it by a greater margin of 200bps, which stands out as the highest rate cut in 53 months. Read: https://lnkd.in/e2KC9Dea

Weekly Inflation Major Changes: Major increase:  - Tomatoes (6.6%)  - Elec. Charges (4.1%)  - Chicken (3.8%)  - Pulse (2.4%)  - Garlic (2.2%) Major decrease:  - Bananas (-6%)  - Pulse Mash (-1.3%)  - Wheat Flour g (-1%)  - LPG Cylinder (-1%)  - Eggs (-0.9%)

Sensitive Price Indicator (SPI) for week ended Sep 12, 2024: +0.01% WoW +14.36% YoY Read the full story at https://lnkd.in/evZaQnYD

#SBP to remain closed on Sep 17 The State Bank of Pakistan (SBP) will remain closed on Tuesday, September 17, 2024 on the occasion of Eid Milad-un-Nabi. Read https://lnkd.in/ebK_cqig

China to raise retirement age Chinese lawmakers on Friday voted to adopt a decision on gradually raising the statutory retirement age in the country, marking the first adjustment in the arrangement since 1950s. Men's retirement age will be gradually raised from 60 to 63 in the course of 15 years starting 2025, while that for women cadres and women blue-collar workers will be raised from 55 to 58 and from 50 to 55, respectively. Read the full story at https://lnkd.in/eKvChi3z

A Lesson in Leadership from Indonesia Indonesia's outgoing President, Joko Widodo, provides a shining example of effective leadership Let us hope that Pakistan's future leaders will learn from the example of Joko Widodo and strive to build a nation where everyone has an opportunity to thrive. Read full opinion piece here: https://lnkd.in/eSm_VPut

Oil set for first weekly gain in a month Oil headed for its first weekly gain in a month as storm Francine disrupted crude production, coupled with a risk-on tone ahead of expected Federal Reserve interest-rate cuts. Brent crude rose to $72.34 per barrel. It is up around 1.2% this week after last week's slump. While West Texas Intermediate crude (#WTI) traded near $69.36 a barrel. Read the full story at https://lnkd.in/eaatFFzX

OMO Result: SBP injects Rs11.77tr The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (#OMO) today, in which it cumulatively injected a total of Rs11.77 trillion into the market. Of which Rs11.65tr were injected through reverse repo OMO. Read https://lnkd.in/eSP-Ae9Z