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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 |
|
7.25% p.a. |
| |
SBP Overnight
Reverse
Repo (Ceiling) Rate |
| 8.25%
p.a. |
| |
SBP Overnight
Repo (Floor) Rate |
| 6.25%
p.a. |
|
-
 |
| |
| Overnight
Weighted Average Repo Rate |
As on 14-Oct-21
7.60% p.a. |
| |
KIBOR
As on 15-Oct-21 |
| Tenor |
BID |
OFFER |
| 3-M |
7.71 |
7.96 |
| 6-M
|
8.10 |
8.35 |
| 12-M
|
8.60 |
9.10 |
| |
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| |
|
-
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MTBs |
| Tenor |
Rates |
| 3-M |
7.8499% |
| 6-M |
8.1901% |
| 12-M |
Bids Rejected |
| (as
on Oct 06, 2021) |
|
PIBs (Fixed Rate) |
| Tenor |
Rates |
| 3-Y |
8.8800% |
| 5-Y |
9.1800% |
| 10-Y |
9.8300% |
| 15-Y |
10.4000% |
| 20-Y |
No Bids Received |
| 30-Y |
No Bids Received |
| (as
on Sep 15, 2021) |
|
PIBs (Floating Rate Quarterly) |
| Tenor |
Cut-off Price |
| 2-Y |
Rs. 99.3014% |
| 3-Y |
Rs. 98.7057% |
| (as
on Oct 06, 2021) |
| PIBs (Floating Rate Semi Annual) |
| Tenor |
Cut of Price |
| 5-Y |
Bids Rejected |
| (as
on Oct 06, 2021) |
| GIS (FRR) |
| Tenor |
Cut-off Rental Rate |
| 5-Y |
9.70% |
| (as
on Sep 30, 2021) |
| GIS (VRR) |
| Tenor |
Cut-off Price |
| 5-Y |
-10Bps |
| (as
on Sep 30, 2021) |
|
|
-
 |
PIB
Auction
(Fixed Rate)
02-Oct-21 |
| |
MTB Auction
20-Oct-21
|
 |
PIB Auction
(Floating Rate)
Semi-Annual
20-Oct-21 |
PIB
(Floating Rate)
Quarterly
20-Oct-21 |
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 |
|
| As
on 08-Oct-21 |
SBP’s Reserves |
19,138.4 |
Bank’s Reserves |
6,831.0 |
Total Reserves |
25,969.4 |
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-
 |
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| USD/PKR
Rates |
|
As on 15-Oct-21 |
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M2M
Revaluation Rate |
| 171.1811 |
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Weighted
Average Rate |
| Bid: |
170.9998 |
|
Offer: |
171.3631 |
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