The State Bank of Pakistan (SBP) is maintaining a high-interest rate policy despite a recent decline in inflation, as articulated by Governor Jameel Ahmad at the AlUla Conference for Emerging Market Economies. Ahmad emphasized the necessity of 'preemptive actions' due to persistent global uncertainties and potential domestic pressures. He stated, 'The actions of the central bank should be proactive, timely and highly effective to enable it to achieve the ultimate objective.' Despite inflation rates falling below the target range of 5-7%, the SBP is keeping interest rates high, which Ahmad defends by highlighting the importance of stability over growth. This sentiment is echoed in the Tribune's report, which notes that the SBP plans to maintain its current monetary policy stance for at least two more years, focusing on macroeconomic stabilization and avoiding 'unconventional or out-of-the-way' rate cuts, despite political pressure for monetary easing.