e State Bank of Pakistan (SBP) on Friday dispelled rumours about holding an emergency meeting of the Monetary Policy Committee (MPC), saying that such reports were “completely baseless”.
“The reports making rounds in media about holding an emergency meeting of the MPC of SBP are completely baseless,” the central bank said on social media platform X (formerly Twitter).
The statement by the central bank comes amid speculation by analysts about the policy rate being hiked to 300 basis points in light of a faltering economy and the steady depreciation of the rupee.
A day earlier, the Pakistan Stock Exchange’s benchmark KSE-100 index had plummeted by around 1,250 points, or 2.7 per cent, with analysts mainly attributing the losses to rumours of an interest rate hike.