Monetary Policy Decisions
The Monetary Policy Committee (MPC) of the Board of Directors of the Bank is responsible for setting the monetary policy direction bi-monthly, in line with the targets set in the Monetary Policy Statement. The Monetary Policy Statement provides an outlook of monetary policy for the fiscal year ahead. At the beginning of every fiscal year, the Bank sets annual monetary policy targets in its Monetary Policy Statement, in accordance with the broader macroeconomic policy objectives of the Governments. The Monetary Policy Statement is approved by the Bank’s Board of Directors and submitted to the Minister for Finance and Planning, who in turn submits it to the National Assembly.