Gold trading above $2k. Oil remains bullish after Opec surprise cut.

Pakistan State Bank hikes by 100bps to 21.00% in Monetray Policy Committee meeting held today. The MPC noted that inflation in March 2023 rose further to 35.4 percent, and is expected to remain high in the near term. MPC statement 4/4/2023.

In its previous emergent meeting The State Bank of Pakistan had increased Policy rate by 300bps to 20%. 

Rupee weakened further today, declining to over Rs 287 to a US dollar.

KIBOR at 22.36%