March 24, 2023

T-bill yields jump to 22 percent on rate hike bets

KARACHI: The cut-off yields on treasury bills rose on Wednesday as investors expect another big interest rate hike in next monetary policy meeting due in April.Besides controlling inflationary pressure, the market participants believe interest rate to remain a function of Pakistan’s ongoing negotiation with the International Monetary Fund .The decision to raise the policy rate will help unlock the stalled IMF programme. The yield on the three-month T-bill rose 100 basis points to 22...