Karachi July 8 2022: SBP Overnight Reverse Repo (Ceiling) rate will be at 16.00% i.e. 100 bps above the SBP Policy Rate.
Yesterday, SBP has decided to increase ‘Policy Rate’ (Target Rate) from 13.75% to 15.00%. The SBP Overnight Repo (Floor) rate will be at 14.00% i.e. 100 bps below the SBP Policy Rate.
Accordingly, the Floor and Ceiling levels for the Interest Rate Corridor are 14.00% and 16.00% 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 July 13, 2022. Other instructions on the subject shall, however, remain unchanged.
Source:
State Bank of Pakistan
