State Bank’s Monetary Policy Committee to Meet on July 31, 2023

• SBP Monetary Policy Committee (MPC) to meet on July 31, 2023.
• SBP Governor Jameel Ahmad to announce the monetary policy decision.
• MPC will hold three additional meetings in the first half of fiscal year 2023-24.

The State Bank of Pakistan’s Monetary Policy Committee (MPC) is scheduled to meet on July 31, 2023, to discuss and make decisions regarding the monetary policy. Following the MPC meeting, SBP Governor Jameel Ahmad will announce the monetary policy decision during a press conference on the same day.

Recently, the SBP released a half-yearly schedule of MPC meetings, which will be conducted on a rolling basis. The first meeting of fiscal year 2023-24 will be held on July 31, during which the policy rate will be determined based on a review of the overall financial situation, economic indicators, and sector performance.

The MPC, led by SBP Governor Jameel Ahmad, will also hold three additional meetings during the first half of the current fiscal year on September 14, October 30, and December 12.

The main responsibilities of the MPC include formulating the monetary policy, deciding on intermediate monetary objectives, key interest rates, and reserve supply, as well as implementing regulations and issuing the monetary policy statement and other related measures.

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