In Karachi, there have been rumors suggesting the possibility of an emergency monetary policy meeting aimed at increasing interest rates. These rumors have been refuted by the State Bank.
The State Bank’s spokesperson categorically denies the existence of any plans for an emergency meeting of the Monetary Policy Committee (MPC) of Bank Daulat Pakistan, labeling such reports as entirely without merit.
It is deemed premature to make any predictions regarding future policy rates at this point. The only entity authorized to determine policy rates is the MPC, an independent statutory body.
The spokesperson further indicated that the forthcoming MPC meeting is scheduled for September 14, 2023. During this meeting, an assessment of the economic situation will be conducted, and appropriate decisions will be made in accordance with the prevailing circumstances.