Sometimes they are accused of communicating in a secret code with the real meaning known only to other central bankers. So how do we undertake important policy decisions in the Reserve Bank and how do we endeavour to communicate?
i)  Operational independence  In 1990, the Reserve Bank became the first modern central bank to have a legislated structure in which the government took the lead in setting the objective, while the central bank had operational independence in, and formal accountability for, the execution of monetary policy.