The 6-Month Karachi Inter-Bank Offered Rate (KIBOR), a benchmark forlending to consumers and businesses, surged by 91 basis points on aday-on-day (DoD) basis on Monday (November 28) to touch an all-time highafter the State Bank of Pakistan’s (SBP) monetary policy decision on Friday.
According to data by Arif Habib Limited (AHL), the KIBOR has reached 16.81percent, which is an all-time high. The hike is owed to expectations ofrising inflationary pressures after the price impact of the new policy rateis passed onto the consumers.
The other widely used 3-Month KIBOR increased by 89 basis points to 16.76percent, while the 9-Month KIBOR increased by 90 basis points from 16.17percent to 17.07 percent. The 1-year KIBOR increased by 90 basis points,from 16.19 percent to 17.09 percent.
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The spread also shows that the 1-Week KIBOR surged by 99 bps to 16.39percent, the 2-Week KIBOR by 99 bps to 15.47 percent, and the 1-Month KIBORfrom 15.6 percent to 16.55 percent.
