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       KARACHI: The State Bank of Pakistan (SBP) has announced that it will begin publishing a Monetary Policy Report (MPR) on a biannual basis to provide a clearer assessment of the impact of its policy decisions.

       The central bank has also released the advance schedule of Monetary Policy Committee (MPC) meetings for FY26 as part of efforts to enhance transparency and predictability.

       “In line with SBP’s Strategic Plan — Vision 2028 — and to enhance transparency in the monetary policy formulation process, the SBP will be publishing a MPR on a biannual basis,” said a statement issued by the bank on Tuesday.

       The reports will be published within two weeks of the MPC meetings in July and January each year and will include updated projections for key macroeconomic indicators. These MPRs will supplement SBP’s existing monetary policy communications with stakeholders.

       “These efforts are aimed at improving the effectiveness of monetary policy transmission by anchoring inflation expectations, and are part of SBP’s roadmap towards adopting an inflation targeting regime,” the statement added.

       In addition, the SBP announced it will expand the horizon of its advance MPC calendar to support long-term financial planning and bolster institutional transparency.

       The MPC meeting schedule for FY26 is as follows: July 30; Sept 15; Oct 27; Dec 15; Jan 26, 2026; March 9; April 7; and June 15. The next advance calendar for FY27 will be released in July 2026.

       In case of any unforeseen developments affecting the announced dates, revised schedules will be communicated accordingly, the SBP said.

       Published in Dawn, July 23rd, 2025