to DMMD Circular No. 25 dated November 30,
2018. Following changes are announced with
reference to this circular:
has decided to increase its ‘Policy
Rate’ (Target Rate) from 10.00%
2. The SBP Overnight
Reverse Repo (Ceiling) rate will be at
10.75% i.e. 50 bps above the SBP Policy
3. The SBP Overnight
Repo (Floor) rate will be at 8.75% i.e.
150 bps below the SBP Policy Rate.
4. Accordingly, the
Floor and Ceiling levels for the Interest
Rate Corridor are 8.75% and 10.75% p.a.
respectively (i.e. width of 200bps).
SBP will ensure that money
market overnight rate remains close to the
SBP Policy Rate (Target Rate).
Above changes are effective
from February 01, 2019. Other instructions
on the subject shall, however, remain unchanged.