July 03, 2007	Tuesday	Jamadi-us-Sani 17, 1428

KARACHI, July 2: The State Bank of Pakistan has announced that it will auction three-, six- and 12-month maturity treasury bills worth Rs45 billion on Wednesday.

But the experts see no change in the cut-off yield. The inter-bank market is excessively liquid due to massive supply of money which is the result of piling up of reserve money.

The new monetary policy, which is expected to be announced this month, may not bring any change in the prevailing tight monetary stance.