Monetary Policy

 





Monetary Policy Decision-Making Body
Monetary Policy Decision-Making Process






  Monetary Policy Decision-Making in Pakistan  
   Monetary Policy Decision-Making Body


Monetary Policy Committee is responsible and fully empowered to decide the monetary policy stance. Section 9E of the SBP Act 1956 lays out the powers and functions of the Monetary Policy Committee that have been mainly identified as to:

(a)  formulate, support and recommend the monetary policy, including, as appropriate, decisions relating to intermediate monetary objectives, key interest rates and the supply of reserves in Pakistan and may make regulations for their implementation;

(b) approve and issue the monetary policy statement and other monetary policy measures.

Click for the profile of current SBP’s Monetary Policy Committee members.



  •  
    SBP Policy Rate
    7.50% p.a.
     
    SBP Overnight
    Reverse
    Repo (Ceiling) Rate
    8.00% p.a.
     
    SBP Overnight
    Repo (Floor) Rate
    6.00% p.a.
  •  
    Overnight Weighted Average Repo Rate
    As on 20-July-18
    7.13% p.a.
     
    KIBOR
    As on 23-July-18
    Tenor BID OFFER
    3-M 7.65 7.90
    6-M 7.77 8.02
    12-M 7.93 8.43
         

  •  
    MTBs
    Tenor Rates
    3-M 7.7500%
    6-M 7.8526%
    12-M No Bid received

    PIBs
    (Fixed Rate)

    Tenor Rates
    3-Y Bid Rejected
    5-Y Bid Rejected
    10-Y Bid not received
    20-Y Bid not received


    GIS

    Cut-off Margin over Benchmark*:
    -50 bps
    * Latest 6-M W.A MTB Rate


  • MTB Auction

    01-Aug-18

     
    PIB Auction
    (Fixed/Floating Rate)

    8-Aug-18

     
    As on 13-July-18
    SBP’s Reserves
    9,063.6
    Bank’s Reserves
    6,618.9
    Total Reserves
    15,682.5

  •  
    USD/PKR Rates
    As on 23-July-18
     
    M2M
    Revaluation Rate
    128.5035
     
    Weighted
    Average Rate
    Bid: 128.3996
    Offer: 128.5859
       
       
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