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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.
(Read for more detail) |
| 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.
(Read for more detail) |
| 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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| Advance Calender of Monetary Policy Committee Meetings |
To make the process of monetary policy formulation predictable and transparent, the State Bank of Pakistan (SBP) announces a half-yearly schedule of Monetary Policy Committee (MPC) meetings on a rolling basis.
(Read for more detail) |
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 |
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| SBP Policy Rate |
|
7.25% p.a. |
| |
SBP Overnight
Reverse
Repo (Ceiling) Rate |
| 8.25%
p.a. |
| |
SBP Overnight
Repo (Floor) Rate |
| 6.25%
p.a. |
|
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 |
| |
| Overnight
Weighted Average Repo Rate |
As on 25-Oct-21
7.47% p.a. |
| |
KIBOR
As on 26-Oct-21 |
| Tenor |
BID |
OFFER |
| 3-M |
8.11 |
8.36 |
| 6-M
|
8.60 |
8.85 |
| 12-M
|
9.01 |
9.51 |
| |
|
|
|
| |
|
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 |
MTBs |
| Tenor |
Rates |
| 3-M |
8.2498% |
| 6-M |
Bids Rejected |
| 12-M |
Bids Rejected |
| (as
on Oct 20, 2021) |
|
PIBs (Fixed Rate) |
| Tenor |
Rates |
| 3-Y |
8.8800% |
| 5-Y |
9.1800% |
| 10-Y |
9.8300% |
| 15-Y |
10.4000% |
| 20-Y |
No Bids Received |
| 30-Y |
No Bids Received |
| (as
on Sep 15, 2021) |
|
PIBs (Floating Rate Quarterly) |
| Tenor |
Cut-off Price |
| 2-Y |
Rs. 99.3153% |
| 3-Y |
Rs. 98.7179% |
| (as
on Oct 20, 2021) |
| PIBs (Floating Rate Semi Annual) |
| Tenor |
Cut of Price |
| 5-Y |
Bids Rejected |
| (as
on Oct 20, 2021) |
| GIS (FRR) |
| Tenor |
Cut-off Rental Rate |
| 5-Y |
9.70% |
| (as
on Sep 30, 2021) |
| GIS (VRR) |
| Tenor |
Cut-off Price |
| 5-Y |
-10Bps |
| (as
on Sep 30, 2021) |
|
|
-
 |
PIB
Auction
(Fixed Rate)
02-Oct-21 |
| |
MTB Auction
03-Nov-21
|
 |
PIB Auction
(Floating Rate)
Semi-Annual
03-Nov-21 |
PIB
(Floating Rate)
Quarterly
03-Nov-21 |
|
 |
|
| As
on 15-Oct-21 |
SBP’s Reserves |
17,492.2 |
Bank’s Reserves |
6,835.2 |
Total Reserves |
24,327.4 |
|
| |
|
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 |
| |
| USD/PKR
Rates |
|
As on 26-Oct-21 |
| |
M2M
Revaluation Rate |
| 175.2650 |
| |
Weighted
Average Rate |
| Bid: |
174.6128 |
|
Offer: |
174.9828 |
| |
|
|
| |
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|