•  The monetary analysis, which acts as a cross-check to the economic analysis, focuses on money and credit developments in recognition of empirical evidence suggesting that monetary growth and inflation tend to be closely related in the medium to long run. The third element in the strategy is central bank independence, counterbalanced by accountability and transparency.
In addition to MPMs, they attend Policy Board meetings that make decisions, with the Governor and the Deputy Governors, on important policy issues, such as those on financial stability, business operations, and management strategy.