Returns on Treasury bills slashed by 148bps

KARACHI: The government slashed the cutoff yi­­elds on treasury bills by up to 148 basis points on Wed­nesday, reflecting the rec­ent cut in the interest rate.

The State Bank had an­­nounced a 100 basis point cut in the interest rate to 19.5 per cent earlier this month. The decision was taken after inflation fell to 11.1 per cent last month.

Market experts said it was expected that cutoff yields on t-bills would come down further as it remains close to the policy rate.