SBP Monetary Policy Committee meets on Monday, likely to maintain status quo 

The Monetary Policy Committee (MPC) meeting of the State Bank of Pakistan (SBP) will be held on Monday (July 27), 2026. The previous meeting took place on June 15, 2026, where the benchmark policy rate was kept unchanged at 11.5%. 

State Bank Governor Jameel Ahmad will announce the monetary policy at a press briefing. CFA Society Pakistan has released a survey regarding the State Bank's July monetary policy meeting. In the survey, experts were asked two questions regarding monetary policy decisions and the value of the rupee. 

80 percent of the survey participants opined that the interest rate would remain unchanged at 11.50 percent. 20 percent of the participants projected a 50-basis-point increase in the interest rate. 47% of participants foresee the dollar trading between 279 and 284 by December 2026. 40% of participants expect the dollar-rupee exchange rate to remain stable by December 2026. 

In the opinion of 10% of experts, the dollar will range between 285 and 289 rupees by December. 3% of the survey participants expect the dollar to be between 290 and 300 rupees by December.