SBP Updates Monetary Policy Committee Meetings Schedule For January-June FY24

The State Bank of Pakistan (SBP) has issued the schedule of the Monetary Policy Committee (MPC) for the first half of the calendar year 2024. According to the schedule, the next meeting of the MPC will be held on Monday, January 29, 2024, followed by a meeting on Monday, March 18, 2024, and Monday, April 29, 2024. The fourth and final meeting during the year will be held on Monday, June 10, 2024. To make the process of monetary policy formulation predictable and transparent, the central bank announces a half-yearly schedule of Monetary Policy Committee (MPC) meetings on a rolling basis. The Monetary Policy Committee is responsible and fully empowered to decide the monetary policy stance. It is pertinent to mention here that the MPC of the central bank in June 2023, raised the policy rate to 22 percent, the highest ever in Pakistan’s history. The emergency meeting was not scheduled and came at a time when domestic uncertainties and external vulnerabilities ailed the economy. The key interest rate has remained unchanged for the last four meetings.