KARACHI: The State Bank of Pakistan (SBP) has released the advance calendar for Monetary Policy Committee (MPC) meetings for FY27, which the central bank said is part of its efforts to bring greater transparency and predictability into monetary policy formulation and improve its monetary policy-related communication.
According to a statement, the SBP has also decided to increase the frequency of post-MPC press conferences from two to four times a year. The press conferences by SBP’s governor will be conducted following the MPC meetings in July, October, January and April.
At the same time, SBP has decided to publish the staff presentation for the post-MPC Analyst Briefing. The presentation will be published on SBP’s official website one day after the MPC meeting. This decision is aimed at bringing greater transparency into the MPC’s reaction function and increasing stakeholders’ confidence about the thorough and data-driven monetary policy formulation process at the SBP.
The SBP has also decided to streamline the process for the publication of the minutes of the MPC meetings. The minutes will now be published on SBP’s website by the end of the 4th week of the corresponding MPC meeting.
The banks said that its continuous improvements in monetary policy-related communications are guided by the SBP’s Strategic Plan – Vision 2028 – which aims to enhance the effectiveness of monetary policy transmission by anchoring inflation expectations and facilitating the formal adoption of an inflation targeting regime.
