February 14, 2006	Tuesday	Muharram 15, 1427

KARACHI, Feb 13: The State Bank has once again injected liquidity into the banking system to provide only required amount and not allowing the overnight rate to come down.

For the last couple of weeks, the SBP has been regularly injecting liquidity into the banking system but the overnight rate remained unchanged. On Monday, the SBP injected Rs7.9 billion through the open market operation (OMO), but the overnight rate slightly slipped to eight per cent from the earlier 8.9 per cent. The central bank has set Rs7 billion as target for the T-bills auction to be held on Wednesday. Analysts said there was no hope for a change in cut-off yield.