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Print Print edition: 2022-11-26

Overnight reverse repo (ceiling) rate to be 17pc

Published November 26, 2022 Updated November 26, 2022 11:30am
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KARACHI: The State Bank of Pakistan (SBP) on Friday decided to increase ‘Policy Rate’ (Target Rate) from 15 percent to 16 percent.

Now SBP Overnight Reverse Repo (Ceiling) rate will be 17 percent, i.e., 100 bps above the SBP Policy Rate. While, the SBP Overnight Repo (Floor) rate will be at 15 percent, i.e., 100 bps below the SBP Policy Rate.

Accordingly, the Floor and Ceiling levels for the Interest Rate Corridor are 15 percent and 17 percent p.a. respectively (i.e. width of 200bps).

SBP raises key interest rate by 100bps, takes it to 16%

SBP said that it will continue to ensure that the money market overnight rate remains close to the SBP Policy Rate (Target Rate). These changes will be effective from Nov 28, 2022. Other instructions on the subject shall, however, remain unchanged.

Copyright Business Recorder, 2022

SBP SBP interest rate SBP policy rate

Comments

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Ihsanullah Butt Nov 27, 2022 07:15am
Interest rate should be as low as possible for condusive business environment,so that low income people can also start business
0
hameed shaheen Nov 27, 2022 03:42pm
SBP should fund fast track massive national skills imparting to youth to enable then earn huge foreign exchange for Pakistan. Short term courses of six months, one year be made to produce at least 150 million both gender skilled youth. It is the only way to end hellish poverty, burgeoning joblessness.
0
Ahmad Azeez Nov 27, 2022 03:57pm
@Ihsanullah Butt , no low income person is starting a business in this uncertainty. Better to have high rate to control inflation
0
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