On Tuesday, KIBOR rates experienced a notable decline across all tenors, ranging from 4 to 137 basis points (bps), following the State Bank of Pakistan’s (SBP) decision to reduce the key interest rate by 250 bps the previous day.

According to data from the SBP, the 6-month KIBOR decreased to 13.29 percent. The widely used 3-month KIBOR fell by 16 bps, reaching 13.71 percent, while the 1-year KIBOR saw an 8 bps reduction, settling at 13.09 percent.

The most significant drop was observed in the 1-week KIBOR, which plummeted by 137 bps to 15.47 percent. This decline in KIBOR rates reflects the central bank’s efforts to ease monetary policy and stimulate economic activity.In related news, Farrukh Sabzwari has been appointed as the new CEO of the Pakistan Stock Exchange, further signaling a period of positive change and growth for the PSX.