The State Bank of Pakistan (SBP) has released the advance calendar for Monetary Policy Committee (MPC) meetings for fiscal year 2026-27 and announced several measures aimed at enhancing transparency and improving communication related to monetary policy decisions.
The initiatives form part of the central bank’s broader efforts under its Vision 2028 strategic plan, which seeks to strengthen the effectiveness of monetary policy transmission, anchor inflation expectations, and facilitate the eventual adoption of an inflation-targeting framework.
SBP Increases Post-MPC Press Conferences
As part of the new communication strategy, the SBP has increased the number of post-MPC press conferences from two to four annually.
According to the central bank, SBP Governor will address the media following MPC meetings scheduled for July, October, January, and April. The move aims to provide greater clarity regarding monetary policy decisions and the economic outlook.
Analyst Briefing Presentations to Become Public
The central bank has also decided to publish the presentations prepared by its staff for post-MPC analyst briefings.
These presentations will be uploaded to the SBP’s official website one day after each MPC meeting. The decision is intended to improve transparency regarding the committee’s reaction function and boost stakeholders’ confidence in the central bank’s data-driven policy formulation process.
MPC Meeting Minutes to Be Published Earlier
In another key development, the SBP announced that minutes of Monetary Policy Committee meetings will now be released by the end of the fourth week following each meeting.
The streamlined process is expected to provide financial markets and analysts with a more timely understanding of the discussions and considerations behind monetary policy decisions.
Eight MPC Meetings Scheduled for FY27
According to the advance calendar, the Monetary Policy Committee will hold eight meetings during FY27.
The meetings are scheduled for:
July 27, 2026
September 14, 2026
October 26, 2026
December 14, 2026
January 25, 2027
March 8, 2027
April 26, 2027
June 17, 2027
The central bank noted that any unforeseen event affecting the announced dates would be communicated separately.
Monetary Policy Reports Scheduled Twice
SBP will also issue two Monetary Policy Reports during FY27.
The first report is scheduled for August 10, 2026, following the July meeting, while the second will be released on February 8, 2027, after the January MPC meeting.
Meanwhile, analyst briefing slide decks will be published one day after each meeting, while the corresponding MPC minutes will be released during the fourth week after every session.
Vision 2028 Driving Reforms
According to the SBP, the continuous improvement in monetary policy-related communication is guided by its Strategic Plan—Vision 2028.
The plan aims to strengthen monetary policy transmission mechanisms, anchor inflation expectations, and support the formal adoption of an inflation-targeting regime in Pakistan.
The latest measures are expected to enhance predictability and provide investors, businesses, economists, and market participants with greater insight into the central bank’s decision-making process.