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| Monetary Policy Framework |
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| Monetary Policy Objectives |
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The preamble of the SBP Act, 1956 envisages these objectives as 'whereas it is necessary to provide for the constitution of State Bank to achieve domestic price stability by way of regulating the monetary and credit system of Pakistan and, without prejudice to said primary objective, contribute to the stability of the financial system of Pakistan and supporting the general economic policies of the Federal Government to foster development and fuller utilization of the country's productive resources'.
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| SBP Policy Rate |
|
15.00% p.a. |
| |
SBP Overnight
Reverse
Repo (Ceiling) Rate |
| 16.00% p.a |
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SBP Overnight
Repo (Floor) Rate |
| 14.00%
p.a. |
|
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 |
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| Weighted-average Overnight Repo Rate |
As on 29-Sep-22
14.24% p.a. |
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KIBOR
As on 30-Sep-22 |
| Tenor |
BID |
OFFER |
| 3-M |
15.52 |
15.77 |
| 6-M
|
15.66 |
15.91 |
| 12-M
|
15.71 |
16.21 |
|
| |
|
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MTBs |
| Tenor |
Rates |
| 3-M |
15.9999% |
| 6-M |
15.9998% |
| 12-M |
15.9900% |
| (as
on Sep 21, 2022) |
|
PIBs (Fixed Rate) |
| Tenor |
Rates |
| 3-Y |
13.9200% |
| 5-Y |
13.3900% |
| 10-Y |
12.9500% |
| 15-Y |
No Bid Received |
| 20-Y |
No Bid Received |
| 30-Y |
No Bid Received |
| (as
on Sep 14, 2022) |
|
PIBs (Floating Rate Quarterly) |
| Tenor |
Cut-off Price |
| 2-Y |
Rs. 98.9189 |
| 3-Y |
Rs. 97.4649 |
| (as
on Sep 21, 2022) |
| PIBs (Floating Rate Semi Annual) |
| Tenor |
Cut of Price |
| 5-Y |
Rs. 95.9807 |
| 10-Y |
Bids Rejected |
| (as
on Sep 21, 2022) |
| GIS (FRR) |
| Tenor |
Cut-off Rental Rate |
| 5-Y |
12.9002% |
| (as
on 22-Sep-2022) |
| GIS (VRR) |
| Tenor |
Cut-off Price |
| 5-Y |
Rs. 99.6705 |
| (as
on 22-Sep-2022) |
|
|
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 |
PIB
Auction
(Fixed Rate)
12-Oct-22 |
MTB Auction
05-Oct-22
|
PIB Auction
(Floating Rate)
Semi-Annual
05-Oct-22 |
PIB Auction
(Floating Rate)
Quarterly
05-Oct-22 |
GIS VRR
20-Oct-22 |
GIS FRR
20-Oct-22 |
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 |
| As
on 23-Sep-22 |
SBP’s Reserves |
8,005.9 |
Bank’s Reserves |
5,756.0 |
Total Reserves |
13,761.9 |
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 |
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| As on 30-Sep-22 |
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M2M
Revaluation Rate |
| 228.4520 |
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Weighted
Average Rate |
| Bid: |
227.8385 |
| Offer: |
228.2546 |
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