The State Bank of Pakistan (SBP) has dispelled rumors about holding an emergency meeting of the Monetary Policy Committee (MPC), saying that such reports were “completely baseless”.
“The reports making rounds in media about holding of an emergency meeting of the MPC of SBP are completely baseless,” the central bank said on social media platform X (formerly Twitter).
Reports circulating in media about an emergency meeting of the Monetary Policy Committee are completely baseless. Next meeting is scheduled for Sep 14, 2023, during which the committee will assess the economic developments and take appropriate decisions.https://t.co/F60313DJAu pic.twitter.com/ajechHYlf3
— SBP (@StateBank_Pak) September 1, 2023
“Furthermore, it would be premature to forecast the future policy rate as only the MPC, which is an independent statutory body, is empowered to decide about the policy rate.”
The central bank reiterated that the next meeting of the MPC is scheduled to be held on September 14, 2023, during which it will take stock of the economic developments and take appropriate decision in the matter.
Its statement comes as the market became abuzz with reports that the SBP is likely to hold an emergency meeting – like it did in June – on the key policy rate.
