SBP sets target of Rs 145 billion for auctioning T bills

The State Bank of Pakistan has set a target of Rs145 billion for auctioning T-Bill for the second quarter, reported Dunya News. The monitory policy for the next two months will be announced tomorrow. SBP told that between October and December T bills of three, six and 12months limit would be auctioned. The first auction will be held on October 7 while last on December 30. On the other hand a decrease of one percent is likely in cash reserve requirement in the policy scheduled to be announced on September 29. The interest rate might also fall 50 bases points.