SBP aligns overnight repo rates with policy rate change

MG News | June 27, 2023 at 11:22 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

June 27, 2023 (MLN): In line with the increase in Policy Rate in an emergent meeting yesterday, Overnight Reverse Repo (Ceiling) rate will also be at 23% i.e. 100 bps above the SBP Policy Rate, latest notice by SBP showed.

The SBP Overnight Repo (Floor) rate will be at 21% i.e. 100 bps below the SBP Policy Rate.

Accordingly, the Floor and Ceiling levels for the Interest Rate Corridor are 21% and 23% 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).

The above changes are effective from Jun 27, 2023. Other instructions on the subject will, however, remain unchanged.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	59,435.00	61,900.00 57,960.00	-400.00 -0.67%
BRENT CRUDE	74.93	75.10 72.06	1.19 1.61%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	0.50 0.44%
ROTTERDAM COAL MONTHLY	126.25	126.25 126.25	0.35 0.28%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	71.59	71.84 68.90	1.25 1.78%
SUGAR #11 WORLD	14.12	14.18 13.86	0.10 0.71%