Karachi January 24 2023: SBP Overnight Reverse Repo (Ceiling) rate will be at 18.00% i.e. 100 bps above the SBP Policy Rate, says the central bank in a notification.
Earlier, SBP has decided to increase ‘Policy Rate’ (Target Rate) from 16.00% to 17.00%.
The SBP Overnight Repo (Floor) rate will be at 16.00% i.e. 100 bps below the SBP Policy Rate.
Accordingly, the Floor and Ceiling levels for the Interest Rate Corridor are 16.00% and 18.00% 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 Jan 24, 2023. Other instructions on the subject shall, however, remain unchanged.