नवनियुक्त गभर्नर अधिकारीद्वारा पद बहाली

State Bank of Pakistan modernize monetary policy framework in 2009 by introducing interest
rate corridor framework. It currently implements monetary policy using overnight repo rate
as the operational target. In Bangladesh, the central bank currently uses the reserve money as
an operational target and broad money as an intermediate target in its monetary policy.
Similarly, in the monetary policy framework of Sri Lanka, reserve money is the operating
target and broad money supply is the intermediate target. The major tools in steering reserve
money target are the Open Market Operations (OMO), and the pair of official rates that forms
the floor and the ceiling for eligible commercial bank bidding rates in the auction organized
for their „overnight repo‟ or „reverse repo‟ with the Central Bank. Reserve bank of India uses
the weighted average call rate as operating target.
Most central banks focus on a short term market interest rate as operating target, although it
is often unclear which specific interest rate performs the role. Neither does there exist
connection between the interest rate targeted and the maturity of open market operations
carried out by the central banks (Swank and Velden, 1996). However, in recent years, central
banks have further sharpened their focus on interest rates as operating target. Regarding the
choice of operating target, Poole (1970) suggests that w