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State Bank of Pakistan : DMMD Circular No. 15 of 2021 - SBP's Policy Rate and Overnight Repo / Reverse-Repo Facilities

09/20/2021 | 12:12pm EDT
DMMD Circular No. 15 of 2021September 20, 2021
The Presidents/ Chief Executives
All Commercial Banks/ Primary Dealers


Dear Sirs/Madams,
SBP's Policy Rate and Overnight Repo / Reverse-Repo Facilities


Please refer to
DMMD Circular No. 12dated Jun 25, 2020. Following changes are announced with reference to this circular:
  1. SBP has decided to increase its 'Policy Rate' (Target Rate) from 7.00% to 7.25%.
  2. SBP Overnight Reverse Repo (Ceiling) rate will be at 8.25% i.e. 100 bps above the SBP Policy Rate.
  3. The SBP Overnight Repo (Floor) rate will be at 6.25% i.e. 100 bps below the SBP Policy Rate.
  4. Accordingly, the Floor and Ceiling levels for the Interest Rate Corridor are 6.25% and 8.25% p.a. respectively (i.e. width of 200bps).
SBP will continue to ensure that the money market overnight rate remains close to the SBP Policy Rate (Target Rate).
Above changes are effective from September 21, 2021. Other instructions on the subject shall, however, remain unchanged.
Yours Sincerely,


Dr. Mahmood ul Hasan Khan

Director

Disclaimer

State Bank of Pakistan published this content on 20 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2021 16:11:04 UTC.


ę Publicnow 2021
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