Karachi May 27 2022: State Bank of Pakistan (SBP) is offering 63-day Open Market Operation along with normal 7-day OMO for improving liquidity of the banking sector.
This step will provide certainty to bonds market and bridge the gap created due to drop in banking sector deposits. Banks deposits fall 2.6% since January.
In the previous PIB auction yields of 3 and 5 Year paper moves up in the range of 24-70 basis points.
Yesterday, 1 month paper trades 168 basis points above the policy rate and three month paper was traded 218 basis points above the OMO injection rate 12.32%.
