Monetary Policy













 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. In this regard, the dates for the next four meetings are as follows:

Day Date
Monday 27-Jan-25
Monday 10-Mar-25
Monday 05-May-25
Monday 16-Jun-25
Note: January MPC meeting to be followed by press conference

  •  
    SBP Policy Rate
    12.00% p.a.
     
    SBP Overnight
    Reverse
    Repo (Ceiling) Rate
    13.00% p.a
     
    SBP Overnight
    Repo (Floor) Rate
    11.00% p.a.
  •  
    Weighted-average Overnight Repo Rate
    As on 27-Mar-25
    12.67% p.a.
    KIBOR
    As on 28-Mar-25
    Tenor BID OFFER
    3-M 11.93 12.18
    6-M 11.88

    12.13

    12-M 11.84 12.34
     

  • MTBs
    Tenor Rates
    1-M 12.3898%
    3-M 12.0100%
    6-M 11.9999%
    12-M 12.0100%
    (as on Mar 19, 2025)
    Fixed-rate PIB
    Tenor Cut-off Rates
    2-Y Bids Rejected
    3-Y Bids Rejected
    5-Y 12.3745%
    10-Y 12.7900%
    (as on Mar 12, 2025)

    Floating-Rate PIBs (Quarterly Coupon)

    Tenor Cut-off Price
    2-Y Bids Rejected
    3-Y Bids Rejected

    Floating-Rate PIBs
    (Half-yearly Coupon)

    Tenor Cut-off Price
    2-Y Bids Rejected
    5-Y 96.8291
    10-Y 92.6071
    (as on Mar 26, 2025)
    GIS FRR
    Tenor Cut-off Rental Rate/Price
    3-Y 100.2842
    5-Y 100.0022
    GIS VRR
    Tenor Cut-off Margin/Price
    3-Y 99.0800
    5-Y 98.7600
    (as on 21-Dec-2023)
  • PIB Auction
    (Fixed Rate)
    09-Apr-25


    MTB
    16-Apr-25

    Floating Rate PIB
    (Semi-Annual Coupon)


    16-Apr-25
    Floating-rate PIB
    (Quarterly Coupon)

    04-Feb-25
    As on 21-Mar-25
    SBP’s Reserves
    10,606.8
    Bank’s Reserves
    4,944.2
    Total Reserves
    15,551.0

  •  
    As on 28-Mar-25
     
    M2M
    Revaluation Rate
    280.1646
    Weighted
    Average Rate
    Bid: 279.9561
    Offer:

    280.388

       
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