The State Bank of Pakistan (SBP) has released the advance calendar for Monetary Policy Committee (MPC) meetings for fiscal year 2027 (FY27) as part of its ongoing efforts to enhance transparency and predictability in monetary policy formulation. The central bank also announced an increase in the frequency of post-MPC press conferences from two to four times a year, starting with the meetings in July, October, January, and April.
Enhanced Communication Measures
SBP Governor will now hold press conferences following each of these four MPC meetings. Additionally, the SBP has decided to publish the staff presentation prepared for the post-MPC Analyst Briefing on its official website one day after the MPC meeting. This initiative aims to provide greater insight into the MPC’s reaction function and boost stakeholder confidence in the data-driven monetary policy process.
Streamlined Minutes Publication
The SBP has streamlined the publication process for MPC minutes, which will now be released by the end of the fourth week following the corresponding MPC meeting. These measures are reflected in a detailed advance calendar available on the SBP website.
The continuous improvements in SBP’s monetary policy communications are guided by its Strategic Plan – Vision 2028, which seeks to anchor inflation expectations and facilitate the formal adoption of an inflation targeting regime. According to the SBP, these steps will enhance the effectiveness of monetary policy transmission.
