However, a factor to consider here is the high administrative expense to total expense ratio because of rising remuneration of banking professionals and high operating costs. SBP is keen to evolve a more stable and positive real interest environment over longer run and as a starting point has incentivized banks, through a combination of measures, to change the maturity mismatches on their balance sheets.
4 Clearly, the dysfunctioning of markets because of increased uncertainty and risk cannot be addressed by a change in the stance of monetary policy. •  Second, any measures that may be deemed appropriate to improve the functioning of markets and help stabilise the financial system may be taken independently of the level of policy rates.