Govt raises Rs835bn without a cut in T-bills rates

KARACHI: Without changing the cut-off yields on treasury bills (T-bills), the government raised Rs835 billion, exceeding the auction target, on Wednesday.

Financial market experts said the auction result was up to expectations since the market has already incorporated the expected cut in the interest rate.

The State Bank of Pakistan (SBP) is scheduled to announce a monetary policy for the next two months on Sept 12, and analysts and researchers are sure about a significant cut in the interest rate.