The State Bank of Pakistan (SBP) has invited tenders for six-month Treasury Bills on Wednesday and set a target of Rs 5 billion. Market experts said the auction would be important, as the money banks and financial sector were keen to see any change in the cut-off yield. The cut-off yield on six-month T-bills is taken as benchmark for the interest rates. The SBP has already hinted that interest rates would go up but slowly and gradually.

Copyright Business Recorder, 2005