So, even though we have had our challenges and setbacks, we do have a lot to be thankful for. Notwithstanding this, a year like the one we are living through will inevitably leave some marks on our economy and on economic policy, including on monetary policy. Tonight I would like to talk about some of these.
Their reasoning relates primarily to a preference for the greater clarity of accountability inherent in the current structure. Also important was a sense that the single decision-maker facilitates greater coherence and consistency in communication of monetary policy issues than is likely with committee structures, and greater effectiveness in the management of the organisation.