State Bank of Pakistan - Annual Report 2006-2007

The State Bank of Pakistan has changed the formulation, management and conduct of monetary policy over the last 12 months.

The central bank said it had streamlined the formulation, synchronisation and implementation of monetary policy and that it was reviving financial programming and macroeconomic modelling to help feed broader developments into policy considerations.

The central bank also imposed an annual ceiling on government borrowing. Shamshad Akhtar, the governor of the central bank, said

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