Monetary policy reviews enhanced to eight every year

KARACHI: The State Bank of Pakistan (SBP) on Friday decided to increase the frequency of monetary policy reviews from the existing six to eight times a year.

The SBP said that in continuation of the efforts to make the process of the monetary policy formulation more predictable and transparent in line with the international best practices, it has decided to increase the frequency of monetary policy reviews from six to eight times every year.

Read more: State Bank raises key policy rate by 150 basis points to 8.75%

This action will bring the frequency of meetings in line with that in comparable emerging markets. It will also help enhance the predictability of the monetary policy actions.

Accordingly, the next five Monetary Policy Committee meetings are scheduled for Tuesday, December 14, 2021; Monday, January 24, 2022; Tuesday, March 8, 2022; Tuesday, April 19, 2022; and Friday, June 10, 2022.

The advance calendar for the next half-year of the Monetary Policy Committee meetings will be shared at the meeting of June 2022, the SBP added.