The study looked at how monetary policy in Pakistan has changed over time, focusing on how the central bank adjusts interest rates to stabilize the economy. They used a rule called Taylor's rule to analyze this. The researchers found that factors like the output gap and exchange rate had a significant impact on monetary policy decisions, while inflation did not play a big role. This suggests that inflation targeting may not be the best approach for Pakistan's economy. The study also showed that after 2002, the central bank started focusing more on inflation, which may not have been the most effective strategy.