Pakistani c.bank reduces cash reserve ratio
KARACHI Oct 8 (Reuters) - The central bank of pakistan reduced banks' cash reserve ratio (CRR) to 8 percent from 9 percent, effective from Oct. 11, the State Bank of Pakistan's spokesman told Reuters on Wednesday.
The central bank will further slash the CRR to 7 percent effect from Nov. 15.
Bankers had privately urged the central bank to reduce the statutory liquidity requirement (SLR) or CRR by at least 50 basis points, or possibly both, to stop a liquidity crunch putting banks in jeopardy. (Reporting by Sahar Ahmed; Editing by Simon Cameron-Moore)
- Tweet this
- Share this
- Digg this
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- Judge rejects strict limits on nurse who treated Ebola patients |
- SEBI piles pressure on Sahara to sell overseas hotels
- China expresses concern about Indian plan to build border posts
- US STOCKS-Dow, S&P 500 end at record highs; BoJ move adds fuel to rally
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article