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About Monetary Policy |
Monetary policy involves central banks’ use of instruments to influence interest rates and/or money supply in the economy with the objective to keep overall prices and financial markets stable.
(Read for more detail) |
Monetary Policy Framework in Pakistan |
The preamble of the SBP Act, 1956 envisages these objectives as ‘whereas it is necessary to provide for the constitution of a State Bank to regulate the monetary and credit system of Pakistan and to foster its growth in the best national interest with a view to securing monetary stability and fuller utilization of the country’s productive resources.’
(Read for more detail) |
Monetary Policy Decision Making in Pakistan |
Monetary Policy Committee is responsible and fully empowered to decide the monetary policy stance.
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Monetary Policy Implementation in Pakistan |
Implementation of the monetary policy stance, signaled through announcement of the policy rate, entails managing the day-to-day liquidity in the money market by SBP with the objective to keep the short-term interest rates stable and aligned with the policy rate.
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Monetary Policy Communication in Pakistan |
SBP issues Monetary Policy Statement and Decisions six times a year on its website. These documents provide analysis of current economic conditions and sets out the central bank policy rate.
(Read for more detail) |
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SBP Policy Rate |
7.00% p.a. |
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SBP Overnight
Reverse
Repo (Ceiling) Rate |
8.00%
p.a. |
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SBP Overnight
Repo (Floor) Rate |
6.00%
p.a. |
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Overnight
Weighted Average Repo Rate |
As on 04-Mar-21
6.18% p.a. |
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KIBOR
As on 05-Mar-21 |
Tenor |
BID |
OFFER |
3-M |
7.14 |
7.39 |
6-M
|
7.40 |
7.65 |
12-M
|
7.55 |
8.05 |
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MTBs |
Tenor |
Rates |
3-M |
7.2486% |
6-M |
7.5498% |
12-M |
Bids Rejected |
(as
on Feb 24, 2021) |
|
PIBs (Fixed Rate) |
Tenor |
Rates |
3-Y |
9.4100% |
5-Y |
9.9000 |
10-Y |
10.2890 |
15-Y |
No Bids |
20-Y |
No Bids |
30-Y |
No Bids |
(as
on Mar 03, 2021) |
|
PIBs (Floating Rate Quarterly) |
Tenor |
Cut-off Price |
2-Y |
99.5239 |
3-Y |
Bids Rejected |
(as
on Feb 24, 2021) |
PIBs (Floating Rate Semi Annual) |
Tenor |
Price |
5-Y |
Bids Rejected |
(as
on Feb 24, 2021) |
GIS (FRR) |
Tenor |
Cut-off Rental Rate |
5-Y |
9.45 |
(as
on Jan 14, 2021) |
GIS (VRR) |
Tenor |
Cut-off Price |
5-Y |
100-0600 |
(as
on Jan 14, 2021) |
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MTB
Auction
10-Mar-21 |
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PIB (Floating Rate)
Auction
10-Mar-21
|
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PIB (Fixed Rate)
Auction
31-Mar-21 |
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As
on 26-Feb-21 |
SBP’s Reserves |
12,978.4 |
Bank’s Reserves |
7,155.1 |
Total Reserves |
20,133.5 |
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 |
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USD/PKR
Rates |
As on 05-Mar-21 |
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M2M
Revaluation Rate |
157.1233 |
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Weighted
Average Rate |
Bid: |
156.7713 |
Offer: |
157.1346 |
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