December 27, 2022 (MLN): The State Bank of Pakistan (SBP) on Monday issued the advance calendar of Monetary Policy Committee (MPC) meetings for the period between January and June 2023.
As per the schedule, the central bank has lined up four meetings wherein the first meeting will be held on January 23, 2023, while the second one will be held on March 16, 2023.
The third meeting will be held on April 27, 2023, while the fourth would take place on June 12, 2023.
In the last MPC meeting on November 25, 2022, the central bank increase the policy rate by 100 bps to 16%.
MPC is responsible and fully empowered to decide the monetary policy stance.
Section 9E of the SBP Act 1956 lays out the powers and functions of MPC that have been mainly identified to formulate the monetary policy, including, as appropriate, decisions relating to intermediate monetary objectives, key interest rates, and the supply of reserves in Pakistan, and may make regulations for their implementation.
