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 18-Sep-18
    7.66% p.a.
     
    KIBOR
    As on 19-Sep-18
    Tenor BID OFFER
    3-M 7.78 8.03
    6-M 7.95 8.20
    12-M 8.33 8.83

  • MTBs
    Tenor Rates
    3-M 7.7500%
    6-M Not received
    12-M Not received
    (as on Sep 12, 2018)

    PIBs (Fixed Rate)

    Tenor Rates
    3-Y Bids Rejected
    5-Y 9.25%
    10-Y Bids rejected
    20-Y Nots received
    (as on Sep 05, 2018)

    PIBs (Floating Rate)

    Tenor Cut-off Margin 1/-
    10-Y +70 bps
    1/- Over/under benchmark rate of latest 6-M W.A MTB Rate
    (as on Aug 08, 2018)

  • MTB Auction

    26-Sep-18

     
    PIB Auction
    (Fixed Rate)

    17-Oct-18

     
    As on 07-September-18
    SBP’s Reserves
    9,624.4
    Bank’s Reserves
    6,445.5
    Total Reserves
    16,069.9

  •  
    USD/PKR Rates
    As on 19-Sep-18
     
    M2M
    Revaluation Rate
    124.2471
     
    Weighted
    Average Rate
    Bid: 124.1433
    Offer: 124.3291
       
       
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