The current ceiling rate for SBP Overnight Reverse Repo is 22%.

The Overnight Reverse Repo (Ceiling) rate for the State Bank of Pakistan (SBP) has been set at 22%, 100 basis points higher than the policy (target) rate of 21%.

The SBP Overnight Repo (Floor) rate is currently 20%, or 100 basis points, below the policy rate. As a consequence, the Interest Rate Corridor’s Floor and Ceiling levels are 20% and 22% p.a., respectively, with a 200 bps gap between them.

The SBP seeks to maintain a tight relationship between the overnight rate on the domestic money market and the SBP Policy Rate. The revised prices became effective on April 5, 2023.

Recall that this week’s Treasury Bills sale saw yields increase by 40 basis points, with the government raising Rs. 2,248 billion instead of the Rs. 900 billion it had hoped to raise.

While the cut-off yield for 12-month T-bills increased by 40 bps to 21.8898 percent from 21.4899 percent, the cut-off yield for 6-month T-bills decreased by 1 bps to 21.9789 percent.


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