The State Bank of Pakistan (SBP) on Friday categorically denied reports circulating in the media regarding an emergency meeting of the Monetary Policy Committee (MPC).
In a clarification note released on X (formerly Twitter), the central bank refuted the rumors as “completely baseless.”
The SBP emphasised that any discussion of an emergency MPC meeting was premature and reiterated that only the MPC, an independent statutory body, possesses the authority to make decisions about the policy rate.
The next scheduled meeting of the Monetary Policy Committee is set to convene on September 14, 2023.
During this session, the committee will thoroughly evaluate recent economic developments and determine appropriate policy decisions accordingly.
The announcement from the SBP comes amidst heightened speculation and market volatility, with some stakeholders eagerly awaiting potential adjustments to interest rates. While the central bank has moved swiftly to quash the rumors of an emergency meeting, financial markets remain watchful in anticipation of the upcoming MPC gathering.
