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| Monetary Policy Decision-Making in Pakistan |
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| Monetary Policy Decision-Making Body |
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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
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| 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 |
| |
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| |
|
-
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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
|
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PIB Auction
(Floating Rate)
Semi-Annual
16-June-21 |
PIB
(Floating Rate)
Quarterly
16-June-21 |
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|
| As
on 04-Jun-21 |
SBP’s Reserves |
16,414.9 |
Bank’s Reserves |
7,163.0 |
Total Reserves |
23,577.9 |
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-
 |
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| USD/PKR
Rates |
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As on 14-June-21 |
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M2M
Revaluation Rate |
| 156.1878 |
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Weighted
Average Rate |
| Bid: |
155.8319 |
|
Offer: |
156.1952 |
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