January 30, 2019 (MLN): The State Bank of Pakistan released the Bid Pattern for today's MTB Auction. Auction Target is Rs.100 Billion against a maturing amount of Rs.11.560 Billion.

SBP received bids worth Rs.107.302 Billion for 3 and 6 months, with Rs.106.902 Billion being for 3 months and Rs.400 Million for 6 Months. No bids were received for 12 Months.

If the SBP keeps the 3 month cut off yield unchanged at 10.3013 percent it should be able to raise Rs.103.902 Billion from the competitive auction.

While the market consensus for the upcoming monetary policy is the central bank maintaining the policy rate at 10 percent, the absence of bids for 6 and 12 months suggests the market still expects interest rates to rise in the next few months.

Link to Full Bid Pattern

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