ISSN: 1998 - 4162

JISR MSSE Journal Contents

Volume 10, Number 1, January 2012


Pass-Through of SBP Policy Rate to Market Interest Rates: An Empirical Investigation
Mahmood ul Hassan Khan - State Bank of Pakistan, Karachi, Pakistan
Dr. Muhammad Nadim Hanif - SBP, Karachi, Pakistan


Abstract
Market based implementation of monetary policy embeds a swift and complete passthrough of changes in policy rate to market interest rates. This impacts the lending and deposit rates (retail rates) of the banking system. Incomplete and slow pass-through impairs the effectiveness of monetary policy transmission mechanism. This study estimates the degree and the speed of interest rate pass-through in the case of Pakistan...

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