Karachi November 25 2022: SBP has decided to increase the Overnight Reverse Repo and Overnight Repo rates by 100 bps after ‘Policy Rate’ (Target Rate) has been increased by from 15.00% to 16.00%.
SBP Overnight Reverse Repo (Ceiling) rate will be at 17.00% i.e. 100 bps above the SBP Policy Rate.
The SBP Overnight Repo (Floor) rate will be at 15.00% i.e. 100 bps below the SBP Policy Rate.
Accordingly, the Floor and Ceiling levels for the Interest Rate Corridor are 15.00% and 17.00% 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 Nov 28, 2022. Other instructions on the subject shall, however, remain unchanged.
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