Asia-Pacific

State Bank of Pakistan

Too few recent speeches for a current tone.

Speeches: 135
First speech: Jul 5, 2001
Latest speech: Dec 3, 2025
Tone vs coming rate moves: Not tested; too few speeches or no published rate

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

The BIS does not publish a policy rate for this central bank, so only its tone is shown.

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
Dec 3, 2025	Jameel Ahmad: Speech - Pakistan Women Entrepreneurship Day Jameel Ahmad	−0.07
Dec 2, 2025	Jameel Ahmad: Strengthening and modernising Pakistan's domestic payments ecosystem Jameel Ahmad	+0.05
Nov 14, 2022	Jameel Ahmad: Keynote address - inauguration of Institute of Business Administration's Finance Lab Jameel Ahmad	+0.11
Nov 9, 2022	Jameel Ahmad: Launch of Environmental and Social Risk Management Manual Jameel Ahmad	−0.22
Aug 28, 2019	Jameel Ahmad: Monetary policy and digitization of payment systems Jameel Ahmad	+0.09
Apr 19, 2019	Tariq Bajwa: Remarks - 23rd Zahid Husain Memorial Lecture Tariq Bajwa	+0.11
Mar 18, 2019	Tariq Bajwa: Pakistan's need to tackle low savings, low revenue and the high trade gap for economic development Tariq Bajwa	+0.08
Jan 8, 2019	Tariq Bajwa: International remittance through blockchain technology launch Tariq Bajwa	−0.12
Dec 12, 2018	Tariq Bajwa: The importance of Islamic finance for Pakistan and the challenges ahead Tariq Bajwa	+0.10
Jul 1, 2018	Tariq Bajwa: State Bank of Pakistan's 70th Anniversary Tariq Bajwa	+0.03
Nov 21, 2017	Jameel Ahmad: Changing dynamics - bank of the future Jameel Ahmad	−0.02
Nov 7, 2017	Tariq Bajwa: Pakistan and China - cementing ties in banking and finance Tariq Bajwa	+0.33
Aug 30, 2017	Jameel Ahmad: Promoting high ethical standards and fair market practices in Pakistan Jameel Ahmad	−0.22
Aug 3, 2017	Tariq Bajwa: Islamic Banking &amp; Finance Awareness Drive - 2017 Tariq Bajwa	+0.08
Mar 27, 2017	Ashraf Mahmood Wathra: Giving banks in Pakistan the incentive to enhance their performance Ashraf Mahmood Wathra	+0.05
Jan 20, 2017	Ashraf Mahmood Wathra: Pakistan and China further strengthen their bonds Ashraf Mahmood Wathra	+0.28
Nov 23, 2016	Ashraf Mahmood Wathra: Improvements in Pakistan's economy and opportunities for investment Ashraf Mahmood Wathra	+0.24
Oct 24, 2016	Ashraf Mahmood Wathra: The role of emerging markets in the world economy Ashraf Mahmood Wathra	+0.06
Sep 5, 2016	Ashraf Mahmood Wathra: Developing Islamic finance for its sustainable growth Ashraf Mahmood Wathra	+0.12
Aug 22, 2016	Saeed Ahmad: Responsible banking conduct - an imperative for sustainable growth Mr Saeed Ahmad	+0.05
May 16, 2016	Ashraf Mahmood Wathra: Payment systems and correspondent banking in the SAARC region Ashraf Mahmood Wathra	+0.14
Aug 20, 2015	Ashraf Mahmood Wathra: SAARCFINANCE - sharing experiences on macroeconomic policy issues among South Asian member countries Ashraf Mahmood Wathra	+0.00
Aug 14, 2015	Ashraf Mahmood Wathra: Strengthening Pakistan's economy and financial services Ashraf Mahmood Wathra	+0.13
Apr 28, 2015	Ashraf Mahmood Wathra: Financing agriculture in Pakistan Ashraf Mahmood Wathra	+0.16
Dec 22, 2014	Yaseen Anwar: Brief overview of Pakistan's banking sector and innovative banking practices Yaseen Anwar	+0.07
Mar 17, 2014	Ashraf Mahmood Wathra: Risk management framework in banks Ashraf Mahmood Wathra	+0.07
Mar 13, 2014	Ashraf Mahmood Wathra: The importance of financial inclusion in Pakistan Ashraf Mahmood Wathra	−0.03
Mar 6, 2014	Ashraf Mahmood Wathra: Promoting innovative rural and agriculture finance in Pakistan Ashraf Mahmood Wathra	−0.06
Jan 15, 2014	Yaseen Anwar: Islamic banking potential of Pakistan Yaseen Anwar	+0.26
Nov 4, 2013	Yaseen Anwar: Fiscal and monetary policies Yaseen Anwar	−0.26
Aug 27, 2013	Yaseen Anwar: Developments of Islamic banking in Pakistan Yaseen Anwar	+0.19
Mar 14, 2013	Yaseen Anwar: Mobile banking in Pakistan Yaseen Anwar	+0.04
Mar 5, 2013	Yaseen Anwar: Brief strategy for the revitalization of the Pakistani economy Yaseen Anwar	−0.02
Mar 4, 2013	Yaseen Anwar: Developing non-bank financial models while addressing the risks of shadow banking Yaseen Anwar	−0.15
Feb 8, 2013	Yaseen Anwar: Operational risk management in Pakistan - issues and challenges Yaseen Anwar	−0.01
Jan 31, 2013	Kazi Abdul Muktadir: Financial inclusion, consumer awareness and protection Kazi Abdul Muktadir	−0.16
Jan 24, 2013	Yaseen Anwar: Promoting an inclusive financial sector in Pakistan Yaseen Anwar	−0.02
Jan 16, 2013	Yaseen Anwar: SME banking Yaseen Anwar	+0.09
Nov 12, 2012	Kazi Abdul Muktadir: Tackling financial exclusion in Pakistan through branchless banking Kazi Abdul Muktadir	+0.10
Nov 8, 2012	Yaseen Anwar: Developing leadership skills and vision for Pakistan's economic growth and prosperity Yaseen Anwar	+0.22
Oct 16, 2012	Kazi Abdul Muktadir: Promoting deposit mobilization and financial inclusion in Pakistan Kazi Abdul Muktadir	+0.13
Oct 9, 2012	Kazi Abdul Muktadir: Branchless banking in Pakistan Kazi Abdul Muktadir	+0.22
Sep 5, 2012	Kazi Abdul Muktadir: Engaging the SMEs to stabilize economy Kazi Abdul Muktadir	+0.09
Sep 4, 2012	Kazi Abdul Muktadir: Islamic finance developments in Pakistan Kazi Abdul Muktadir	+0.19
Aug 14, 2012	Yaseen Anwar: Main challenges for the State Bank of Pakistan Yaseen Anwar	+0.01
Jul 4, 2012	Yaseen Anwar: Ethics, corporate governance and financial inclusion Yaseen Anwar	−0.15
Jun 20, 2012	Yaseen Anwar: Developments of the microfinance sector in Pakistan Yaseen Anwar	−0.13
Jun 16, 2012	Yaseen Anwar: Monetary policy framework in the SAARC region Yaseen Anwar	+0.07
May 16, 2012	Yaseen Anwar: International regulatory initiatives to enhance global financial stability Yaseen Anwar	−0.27
May 14, 2012	Yaseen Anwar: Managing Systemically Important Financial Institutions (SIFIs) Yaseen Anwar	+0.08
Mar 15, 2012	Yaseen Anwar: Mobile banking in Pakistan Yaseen Anwar	−0.00
Jan 20, 2012	Yaseen Anwar: Role of financial institutions and capital markets in Pakistan's economy Yaseen Anwar	−0.23
Dec 22, 2011	Yaseen Anwar: Micro-credit and the financing of small businesses Yaseen Anwar	+0.01
Dec 21, 2011	Yaseen Anwar: Role of financial institutions and capital markets in Pakistan's economy Yaseen Anwar	+0.04
Dec 14, 2011	Yaseen Anwar: Leadership challenges for business success Yaseen Anwar	−0.02
Dec 2, 2011	Yaseen Anwar: Microfinance developments in Pakistan Yaseen Anwar	−0.07
Dec 13, 2010	Shahid H Kardar: Understanding inflation and SBP s monetary policy stance Shahid H Kardar	+0.12
Oct 5, 2010	Muhammad Kamran Shehzad: Combating corruption in the banking sector Muhammad Kamran Shehzad	–
Apr 30, 2010	Muhammad Kamran Shehzad: Commercial mediation in emerging markets - role of State Bank in promoting mediation for resolution of banking disputes Muhammad Kamran Shehzad	+0.19
Apr 17, 2010	Syed Salim Raza: Need for alternative delivery channels in promoting access to finance Syed Salim Raza	−0.01

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.