KARACHI: The State Bank of Pakistan (SBP) has denied the reports of calling an emergency monetary policy meeting and said that the monetary policy committee meeting will be held as per the announced schedule.

Some rumours were circulating that SBP may call an emergent meeting of MPC to review the policy rate as the inflation was uncontrolled. “The reports making rounds in the media about holding of an emergency meeting of the Monetary Policy Committee of SBP are completely baseless”, the SBP said in a statement issued on Friday.

Furthermore, SBP said that 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.

Copyright Business Recorder, 2023