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.

Members of Monetary Policy Committee


  •  
    SBP Policy Rate
    7.00% 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 11-June-21

    7.26% p.a.
     
    KIBOR
    As on 14-June-21
    Tenor BID OFFER
    3-M 7.24 7.49
    6-M 7.45

    7.70

    12-M 7.59 8.09
         
     

  • MTBs
    Tenor Rates
    3-M 7.3492%
    6-M 7.5943%
    12-M 7.6700%
    (as on Jun 02, 2021)

    PIBs (Fixed Rate)

    Tenor Rates
    3-Y 8.6900%
    5-Y 9.2000%
    10-Y 9.8390%
    15-Y No Bids Received
    20-Y No Bids Received
    30-Y No Bids Received
    (as on Jun 09, 2021)

    PIBs (Floating Rate Quarterly)

    Tenor Cut-off Price
    2-Y Bids Rejected
    3-Y 99.1332%
    (as on Jun 02, 2021)
    PIBs (Floating Rate Semi Annual)
    Tenor Cut of Price
    5-Y 98.1932%
    (as on Jun 02, 2021)
    GIS (FRR)
    Tenor Cut-off Rental Rate
    5-Y 9.45%
    (as on Jan 14, 2021)
    GIS (VRR)
    Tenor Cut-off Price
    5-Y 100-0600
    (as on Jan 14, 2021)

  • PIB Auction
    (Fixed Rate)
    07-July-21

     


    MTB Auction

    16-June-21

    PIB Auction
    (Floating Rate)
    Semi-Annual

    16-June-21
    PIB
    (Floating Rate)
    Quarterly

    16-June-21
    As on 04-Jun-21
    SBP’s Reserves
    16,414.9
    Bank’s Reserves
    7,163.0
    Total Reserves
    23,577.9
     

  •  
    USD/PKR Rates
    As on 14-June-21
     
    M2M
    Revaluation Rate
    156.1878
     
    Weighted
    Average Rate
    Bid: 155.8319
    Offer:

    156.1952

       
     
       
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